MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Stock Position in CEVA, Inc. (NASDAQ:CEVA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,979 shares of the semiconductor company’s stock after selling 31,502 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in CEVA were worth $7,035,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CEVA. Franklin Resources Inc. grew its holdings in CEVA by 59.8% during the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company’s stock valued at $842,000 after purchasing an additional 12,515 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CEVA by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after purchasing an additional 41,573 shares in the last quarter. Rhumbline Advisers grew its holdings in CEVA by 2.8% during the 4th quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company’s stock valued at $2,312,000 after purchasing an additional 2,027 shares in the last quarter. Principal Financial Group Inc. grew its holdings in CEVA by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company’s stock valued at $3,637,000 after purchasing an additional 3,171 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in CEVA by 7.9% during the 4th quarter. D.A. Davidson & CO. now owns 60,014 shares of the semiconductor company’s stock valued at $1,893,000 after purchasing an additional 4,417 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

CEVA Price Performance

Shares of CEVA stock opened at $21.23 on Friday. The firm has a market cap of $507.61 million, a P/E ratio of -57.38 and a beta of 1.37. CEVA, Inc. has a 1-year low of $16.02 and a 1-year high of $38.94. The firm has a fifty day moving average of $25.03 and a two-hundred day moving average of $29.26.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $26.55 million. During the same period in the prior year, the business earned ($0.05) earnings per share. CEVA’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that CEVA, Inc. will post -0.12 EPS for the current year.

Insider Transactions at CEVA

In other news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the transaction, the director now directly owns 47,038 shares in the company, valued at approximately $1,457,237.24. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of CEVA in a report on Thursday, May 8th. Oppenheimer lowered their price target on shares of CEVA from $40.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Barclays decreased their price objective on shares of CEVA from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.60.

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.