Jane Street Group LLC Has $1.94 Million Stake in CEVA, Inc. (NASDAQ:CEVA)

Jane Street Group LLC decreased its stake in CEVA, Inc. (NASDAQ:CEVA) by 55.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,631 shares of the semiconductor company’s stock after selling 75,430 shares during the quarter. Jane Street Group LLC owned approximately 0.26% of CEVA worth $1,944,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CEVA. Harvest Fund Management Co. Ltd acquired a new stake in CEVA in the 4th quarter valued at $40,000. Meeder Asset Management Inc. acquired a new stake in CEVA in the 4th quarter valued at $46,000. KLP Kapitalforvaltning AS acquired a new stake in CEVA in the 4th quarter valued at $129,000. Cornerstone Investment Partners LLC acquired a new stake in CEVA in the 4th quarter valued at $215,000. Finally, Arizona State Retirement System acquired a new stake in CEVA in the 4th quarter valued at $217,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

CEVA Stock Down 0.5%

CEVA stock opened at $21.23 on Friday. The company 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 twelve month low of $16.02 and a twelve month high of $38.94. The business has a fifty day moving average of $25.21 and a 200-day moving average of $29.25.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate of $26.55 million. CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, equities research analysts anticipate that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares in the company, valued at approximately $1,457,237.24. This represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

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.