CEVA (NASDAQ:CEVA) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of CEVA (NASDAQ:CEVA) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities research analysts have also recently issued research reports about the company. Rosenblatt Securities boosted their price target on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Roth Mkm increased their price target on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Oppenheimer lifted their price objective on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

CEVA Stock Performance

Shares of NASDAQ CEVA traded down $0.37 during mid-day trading on Friday, reaching $27.01. The company had a trading volume of 130,837 shares, compared to its average volume of 152,273. CEVA has a twelve month low of $16.02 and a twelve month high of $30.00. The stock’s 50 day moving average is $24.63 and its 200-day moving average is $21.91. The stock has a market capitalization of $638.25 million, a PE ratio of -192.91 and a beta of 1.20.

Hedge Funds Weigh In On CEVA

A number of institutional investors have recently made changes to their positions in CEVA. BNP Paribas Financial Markets grew its holdings in CEVA by 22.4% in the 1st quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock valued at $816,000 after buying an additional 6,580 shares during the last quarter. Swiss National Bank raised its stake in CEVA by 5.0% during the 1st quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock valued at $1,056,000 after purchasing an additional 2,200 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in CEVA in the 1st quarter valued at $245,000. Vanguard Group Inc. boosted its holdings in CEVA by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after purchasing an additional 62,734 shares during the period. Finally, Acadian Asset Management LLC grew its position in CEVA by 67.9% in the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after purchasing an additional 211,697 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

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.