CEVA (NASDAQ:CEVA) Shares Gap Up to $23.90

CEVA, Inc. (NASDAQ:CEVA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $23.90, but opened at $24.68. CEVA shares last traded at $24.65, with a volume of 4,797 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CEVA. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. Finally, Oppenheimer raised their price objective on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

CEVA Trading Down 4.3 %

The firm’s 50-day moving average is $20.15 and its 200-day moving average is $20.98. The firm has a market cap of $556.30 million, a price-to-earnings ratio of -44.40 and a beta of 1.15.

Insider Buying and Selling

In related news, Director Louis Silver sold 3,934 shares of CEVA stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $20.72, for a total transaction of $81,512.48. Following the transaction, the director now owns 40,576 shares of the company’s stock, valued at $840,734.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in shares of CEVA by 1,693.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock valued at $7,284,000 after acquiring an additional 303,673 shares during the period. Acadian Asset Management LLC boosted its holdings in CEVA by 67.9% in the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after buying an additional 211,697 shares during the period. Trexquant Investment LP purchased a new position in CEVA in the 4th quarter valued at approximately $1,731,000. Vanguard Group Inc. raised its holdings in CEVA by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after acquiring an additional 62,734 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of CEVA during the second quarter worth $892,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

CEVA Company Profile

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.