2,254 Shares in CEVA, Inc. (NASDAQ:CEVA) Bought by Point72 DIFC Ltd

Point72 DIFC Ltd purchased a new stake in shares of CEVA, Inc. (NASDAQ:CEVA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,254 shares of the semiconductor company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CEVA. Congress Asset Management Co. MA bought a new position in shares of CEVA in the fourth quarter valued at approximately $383,000. BNP Paribas Financial Markets lifted its stake in CEVA by 22.4% during the 1st quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock valued at $816,000 after acquiring an additional 6,580 shares in the last quarter. Swiss National Bank lifted its stake in CEVA by 5.0% during the 1st quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock valued at $1,056,000 after acquiring an additional 2,200 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in CEVA during the 1st quarter worth $245,000. Finally, Vanguard Group Inc. grew its stake in shares of CEVA by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after acquiring an additional 62,734 shares in the last quarter. Institutional investors own 85.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CEVA shares. Oppenheimer upped their price objective on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $25.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CEVA presently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

CEVA Stock Performance

Shares of CEVA stock opened at $24.35 on Monday. The firm has a market cap of $576.85 million, a price-to-earnings ratio of -45.94 and a beta of 1.19. CEVA, Inc. has a 52 week low of $16.02 and a 52 week high of $25.54. The firm’s 50-day simple moving average is $22.27 and its two-hundred day simple moving average is $21.13.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. The company had revenue of $28.44 million during the quarter, compared to analyst estimates of $24.47 million. Analysts forecast that CEVA, Inc. will post -0.31 earnings per share for the current year.

CEVA 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.