Mirae Asset Global Investments Co. Ltd. Lowers Position in CEVA, Inc. (NASDAQ:CEVA)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of CEVA, Inc. (NASDAQ:CEVA) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 362,760 shares of the semiconductor company’s stock after selling 32,560 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 1.54% of CEVA worth $8,238,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of CEVA by 2.7% during the 2nd quarter. BlackRock Inc. now owns 4,002,370 shares of the semiconductor company’s stock valued at $102,261,000 after purchasing an additional 103,682 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CEVA by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,575,873 shares of the semiconductor company’s stock valued at $67,565,000 after purchasing an additional 116,271 shares during the last quarter. Senvest Management LLC increased its position in shares of CEVA by 29.9% during the 3rd quarter. Senvest Management LLC now owns 1,864,131 shares of the semiconductor company’s stock valued at $36,146,000 after purchasing an additional 429,132 shares during the last quarter. State Street Corp increased its position in shares of CEVA by 13.2% during the 2nd quarter. State Street Corp now owns 1,175,515 shares of the semiconductor company’s stock valued at $30,034,000 after purchasing an additional 136,669 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CEVA by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 809,084 shares of the semiconductor company’s stock valued at $20,672,000 after purchasing an additional 45,621 shares during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CEVA news, Director Louis Silver sold 4,730 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $23.19, for a total value of $109,688.70. Following the completion of the transaction, the director now owns 40,576 shares in the company, valued at approximately $940,957.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.

CEVA Stock Down 4.4 %

Shares of NASDAQ CEVA opened at $21.14 on Friday. CEVA, Inc. has a 52 week low of $16.38 and a 52 week high of $28.78. The business has a 50-day simple moving average of $22.58 and a two-hundred day simple moving average of $21.29. The company has a market cap of $498.48 million, a P/E ratio of -41.45 and a beta of 1.14.

CEVA (NASDAQ:CEVA) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. CEVA had a negative return on equity of 5.30% and a negative net margin of 11.52%. The business had revenue of $24.16 million during the quarter, compared to the consensus estimate of $24.32 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue was down 20.4% compared to the same quarter last year. Equities research analysts anticipate that CEVA, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

CEVA has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of CEVA in a research report on Tuesday, February 13th. TD Cowen lifted their price objective on CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CEVA presently has an average rating of “Moderate Buy” and an average price target of $27.00.

CEVA 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.