AlphaQuest LLC Sells 13,856 Shares of CEVA, Inc. (NASDAQ:CEVA)

AlphaQuest LLC reduced its holdings in CEVA, Inc. (NASDAQ:CEVA - Free Report) by 79.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,675 shares of the semiconductor company's stock after selling 13,856 shares during the quarter. AlphaQuest LLC's holdings in CEVA were worth $116,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CEVA. US Bancorp DE boosted its holdings in shares of CEVA by 125.8% in the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 779 shares in the last quarter. Point72 DIFC Ltd boosted its holdings in shares of CEVA by 16.8% in the 3rd quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 378 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 922 shares in the last quarter. FMR LLC boosted its holdings in shares of CEVA by 56.4% in the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of CEVA in the 4th quarter worth about $215,000. 85.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Louis Silver sold 4,520 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 47,038 shares of the company's stock, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently weighed in on CEVA. Rosenblatt Securities restated a "buy" rating and set a $35.00 target price on shares of CEVA in a report on Tuesday, February 11th. Northland Securities increased their target price on CEVA from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. Finally, Barclays increased their target price on CEVA from $34.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.60.

CEVA Trading Down 2.9 %

NASDAQ CEVA traded down $0.84 on Friday, hitting $28.35. The company's stock had a trading volume of 723,344 shares, compared to its average volume of 164,170. CEVA, Inc. has a 52-week low of $16.02 and a 52-week high of $38.94. The company's 50-day simple moving average is $32.78 and its 200 day simple moving average is $29.25. The firm has a market cap of $674.93 million, a P/E ratio of -76.62 and a beta of 1.32.

CEVA (NASDAQ:CEVA - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. On average, research analysts forecast that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

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.