CEVA (NASDAQ:CEVA) Trading Down 4.9%

CEVA, Inc. (NASDAQ:CEVA)’s share price dropped 4.9% during trading on Monday . The stock traded as low as $23.70 and last traded at $23.70. Approximately 33,462 shares were traded during trading, a decline of 78% from the average daily volume of 148,776 shares. The stock had previously closed at $24.92.

Analysts Set New Price Targets

CEVA has been the topic of several research analyst reports. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Oppenheimer upped their price target on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $25.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.50.

CEVA Stock Down 1.0 %

The stock has a market capitalization of $543.09 million, a PE ratio of -43.45 and a beta of 1.19. The firm has a 50 day moving average price of $21.79 and a 200 day moving average price of $21.12.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.14. The firm had revenue of $28.44 million during the quarter, compared to the consensus estimate of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. On average, equities analysts forecast that CEVA, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of CEVA

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its position in shares of CEVA by 122.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 641 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of CEVA during the second quarter valued at approximately $43,000. nVerses Capital LLC bought a new position in CEVA during the second quarter valued at $50,000. Point72 Asia Singapore Pte. Ltd. bought a new position in CEVA during the second quarter valued at $65,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in CEVA during the second quarter valued at $227,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

About CEVA

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.