Migdal Insurance & Financial Holdings Ltd. Sells 55,338 Shares of Ceva, Inc. $CEVA

Migdal Insurance & Financial Holdings Ltd. decreased its stake in Ceva, Inc. (NASDAQ:CEVA) by 16.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 275,595 shares of the semiconductor company’s stock after selling 55,338 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Ceva were worth $7,278,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in shares of Ceva by 5.1% during the second quarter. ProShare Advisors LLC now owns 9,853 shares of the semiconductor company’s stock valued at $217,000 after acquiring an additional 479 shares during the period. State of Alaska Department of Revenue increased its position in shares of Ceva by 8.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,252 shares of the semiconductor company’s stock worth $313,000 after purchasing an additional 1,160 shares in the last quarter. AlphaQuest LLC increased its position in shares of Ceva by 123.6% during the 2nd quarter. AlphaQuest LLC now owns 2,451 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 1,355 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Ceva by 6.0% during the 2nd quarter. Prudential Financial Inc. now owns 25,241 shares of the semiconductor company’s stock valued at $555,000 after purchasing an additional 1,418 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Ceva by 3.1% in the second quarter. American Century Companies Inc. now owns 53,354 shares of the semiconductor company’s stock valued at $1,173,000 after buying an additional 1,619 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Ceva Stock Down 1.8%

CEVA stock opened at $22.51 on Wednesday. Ceva, Inc. has a twelve month low of $18.23 and a twelve month high of $38.94. The company has a market cap of $540.69 million, a P/E ratio of -48.93 and a beta of 1.43. The business has a fifty day moving average of $22.04 and a 200-day moving average of $23.80.

Ceva (NASDAQ:CEVA) last announced 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 firm had revenue of $28.38 million during the quarter, compared to analyst estimates of $28.04 million. Ceva had a negative return on equity of 3.54% and a negative net margin of 10.49%.The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. As a group, equities research analysts anticipate that Ceva, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a research note on Friday, January 9th. Loop Capital began coverage on Ceva in a report on Monday, December 1st. They issued a “buy” rating and a $28.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Ceva in a report on Tuesday, November 11th. Finally, Barclays lifted their price objective on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Four equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Ceva Profile

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.