Ceva (NASDAQ:CEVA) Shares Down 9.7% – Should You Sell?

Shares of Ceva, Inc. (NASDAQ:CEVA) traded down 9.7% on Tuesday . The company traded as low as $24.96 and last traded at $24.4960. 184,112 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 390,760 shares. The stock had previously closed at $27.14.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group assumed coverage on Ceva in a report on Wednesday, February 25th. They issued a “buy” rating and a $27.00 target price on the stock. Stifel Nicolaus assumed coverage on Ceva in a report on Tuesday, February 10th. They issued a “buy” rating and a $30.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a report on Wednesday, April 8th. TD Cowen assumed coverage on Ceva in a report on Friday, March 20th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $30.00 target price (down from $33.00) on shares of Ceva in a report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ceva has an average rating of “Moderate Buy” and a consensus price target of $30.29.

Ceva Stock Up 11.6%

The firm has a 50 day moving average price of $20.99 and a 200 day moving average price of $22.50. The stock has a market cap of $850.84 million, a P/E ratio of -71.02 and a beta of 1.53.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Tuesday, February 17th. The semiconductor company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Ceva had a negative return on equity of 3.15% and a negative net margin of 9.71%.The firm had revenue of $31.29 million for the quarter, compared to the consensus estimate of $31.03 million. During the same quarter last year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts predict that Ceva, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Senvest Management LLC raised its stake in Ceva by 8.0% during the 4th quarter. Senvest Management LLC now owns 2,387,536 shares of the semiconductor company’s stock valued at $51,380,000 after purchasing an additional 177,765 shares during the period. Neuberger Berman Group LLC lifted its holdings in Ceva by 44.1% in the 4th quarter. Neuberger Berman Group LLC now owns 998,824 shares of the semiconductor company’s stock worth $21,505,000 after purchasing an additional 305,540 shares in the last quarter. AWM Investment Company Inc. lifted its holdings in Ceva by 24.1% in the 4th quarter. AWM Investment Company Inc. now owns 827,806 shares of the semiconductor company’s stock worth $17,814,000 after purchasing an additional 160,644 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Ceva by 92.6% in the 4th quarter. Handelsbanken Fonder AB now owns 684,465 shares of the semiconductor company’s stock worth $14,730,000 after purchasing an additional 329,047 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Ceva by 40.6% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 619,817 shares of the semiconductor company’s stock worth $13,624,000 after purchasing an additional 179,098 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

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.