StockNews.com Downgrades CEVA (NASDAQ:CEVA) to Hold

CEVA (NASDAQ:CEVA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

CEVA has been the topic of several other reports. Roth Mkm increased their price objective on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Oppenheimer increased their price objective on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Rosenblatt Securities boosted their target price on shares of CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

CEVA Stock Performance

Shares of NASDAQ CEVA opened at $27.01 on Friday. The company has a market cap of $638.25 million, a PE ratio of -192.91 and a beta of 1.20. The firm’s 50 day moving average price is $24.71 and its 200-day moving average price is $21.95. CEVA has a 52-week low of $16.02 and a 52-week high of $30.00.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in CEVA by 0.7% in the third quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock worth $13,505,000 after acquiring an additional 3,649 shares during the period. Barclays PLC grew its holdings in CEVA by 389.8% during the third quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after purchasing an additional 33,346 shares during the period. Jane Street Group LLC increased its position in CEVA by 206.2% in the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after buying an additional 92,295 shares in the last quarter. Stifel Financial Corp raised its stake in shares of CEVA by 31.7% in the third quarter. Stifel Financial Corp now owns 117,497 shares of the semiconductor company’s stock worth $2,838,000 after buying an additional 28,248 shares during the period. Finally, Readystate Asset Management LP purchased a new position in shares of CEVA during the 3rd quarter valued at about $360,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

CEVA Company Profile

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.