Insider Selling: CEVA, Inc. (NASDAQ:CEVA) Director Sells $81,512.48 in Stock

CEVA, Inc. (NASDAQ:CEVA) Director Louis Silver sold 3,934 shares of CEVA stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $20.72, for a total transaction of $81,512.48. Following the completion of the transaction, the director now directly owns 40,576 shares in the company, valued at $840,734.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CEVA Stock Performance

CEVA stock opened at $19.34 on Thursday. The business has a 50 day simple moving average of $20.05 and a 200-day simple moving average of $21.41. CEVA, Inc. has a 12 month low of $16.38 and a 12 month high of $27.65.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). CEVA had a negative return on equity of 5.70% and a negative net margin of 12.91%. The firm had revenue of $22.07 million for the quarter, compared to analysts’ expectations of $23.06 million. As a group, research analysts anticipate that CEVA, Inc. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price objective on shares of CEVA from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CEVA. Silverberg Bernstein Capital Management LLC purchased a new stake in CEVA in the 4th quarter valued at approximately $1,653,000. PNC Financial Services Group Inc. lifted its holdings in shares of CEVA by 99.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 798 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CEVA in the fourth quarter valued at approximately $358,000. Citigroup Inc. grew its holdings in CEVA by 10.4% during the third quarter. Citigroup Inc. now owns 43,923 shares of the semiconductor company’s stock worth $852,000 after acquiring an additional 4,121 shares during the period. Finally, Numerai GP LLC purchased a new position in CEVA in the third quarter worth $201,000. 85.37% of the stock is owned by hedge funds and other 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.