CEVA (NASDAQ:CEVA) was downgraded by UBS Group from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, The Fly reports.
Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity restated a “buy” rating and issued a $53.00 target price (down previously from $54.00) on shares of CEVA in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.83.
Shares of CEVA (CEVA) traded up $0.85 during trading hours on Wednesday, hitting $43.75. 471,799 shares of the stock traded hands, compared to its average volume of 199,095. CEVA has a 52 week low of $32.25 and a 52 week high of $51.80. The firm has a market cap of $942.73, a P/E ratio of 50.87, a PEG ratio of 2.42 and a beta of 0.75.
In related news, EVP Issachar Ohana sold 1,965 shares of CEVA stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $50.10, for a total value of $98,446.50. Following the completion of the transaction, the executive vice president now directly owns 28,289 shares of the company’s stock, valued at $1,417,278.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Yaniv Arieli sold 8,614 shares of CEVA stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $49.25, for a total value of $424,239.50. Following the completion of the transaction, the chief financial officer now directly owns 40,372 shares of the company’s stock, valued at $1,988,321. The disclosure for this sale can be found here. Insiders sold 67,682 shares of company stock valued at $3,257,929 over the last ninety days. 3.90% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CEVA. Schwab Charles Investment Management Inc. raised its holdings in CEVA by 5.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 93,583 shares of the semiconductor company’s stock worth $4,254,000 after purchasing an additional 4,860 shares during the last quarter. First Trust Advisors LP raised its holdings in CEVA by 5.3% during the 2nd quarter. First Trust Advisors LP now owns 6,886 shares of the semiconductor company’s stock worth $313,000 after purchasing an additional 347 shares during the last quarter. Principal Financial Group Inc. raised its holdings in CEVA by 2.3% during the 2nd quarter. Principal Financial Group Inc. now owns 169,180 shares of the semiconductor company’s stock worth $7,689,000 after purchasing an additional 3,794 shares during the last quarter. Alliancebernstein L.P. raised its holdings in CEVA by 8.8% during the 2nd quarter. Alliancebernstein L.P. now owns 24,650 shares of the semiconductor company’s stock worth $1,120,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in CEVA by 11.2% during the 2nd quarter. Teachers Advisors LLC now owns 348,656 shares of the semiconductor company’s stock worth $15,846,000 after purchasing an additional 35,190 shares during the last quarter. 86.46% of the stock is owned by hedge funds and other institutional investors.
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CEVA, Inc (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT).
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