Migdal Insurance & Financial Holdings Ltd. Has $7.28 Million Stock Position in Ceva, Inc. $CEVA

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of Ceva, Inc. (NASDAQ:CEVA) by 16.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,595 shares of the semiconductor company’s stock after selling 55,338 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 1.15% of Ceva worth $7,278,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Ceva during the 3rd quarter worth $551,000. D.A. Davidson & CO. increased its stake in shares of Ceva by 25.3% in the third quarter. D.A. Davidson & CO. now owns 82,849 shares of the semiconductor company’s stock worth $2,188,000 after purchasing an additional 16,748 shares during the period. Inspire Investing LLC acquired a new position in shares of Ceva during the 3rd quarter worth about $459,000. Silverberg Bernstein Capital Management LLC lifted its position in shares of Ceva by 9.4% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 132,447 shares of the semiconductor company’s stock worth $3,497,000 after purchasing an additional 11,424 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Ceva by 9.9% during the 2nd quarter. Centaurus Financial Inc. now owns 21,355 shares of the semiconductor company’s stock valued at $469,000 after purchasing an additional 1,917 shares during the period. Institutional investors own 85.37% of the company’s stock.

Ceva Price Performance

Shares of Ceva stock opened at $22.51 on Wednesday. Ceva, Inc. has a 52-week low of $18.23 and a 52-week high of $38.94. The firm has a market capitalization of $540.69 million, a PE ratio of -48.93 and a beta of 1.43. The company’s fifty day moving average price is $22.04 and its two-hundred day moving average price is $23.80.

Ceva (NASDAQ:CEVA) last released its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $28.38 million during the quarter, compared to the consensus estimate of $28.04 million. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. Analysts predict that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Loop Capital assumed coverage on Ceva in a report on Monday, December 1st. They set a “buy” rating and a $28.00 price target for the company. Barclays boosted their target price on shares of Ceva from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a research note on Friday, January 9th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Ceva in a research report on Tuesday, November 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ceva presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

About Ceva

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.