Mirae Asset Global Investments Co. Ltd. Sells 1,680 Shares of CEVA, Inc. (NASDAQ:CEVA)

Mirae Asset Global Investments Co. Ltd. reduced its stake in CEVA, Inc. (NASDAQ:CEVA) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,893 shares of the semiconductor company’s stock after selling 1,680 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.14% of CEVA worth $1,097,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in CEVA by 97.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after purchasing an additional 104,453 shares during the period. Jane Street Group LLC increased its holdings in CEVA by 206.2% during the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after buying an additional 92,295 shares during the period. ArrowMark Colorado Holdings LLC bought a new position in CEVA in the third quarter worth approximately $2,053,000. D.A. Davidson & CO. purchased a new stake in CEVA during the third quarter worth $1,343,000. Finally, JPMorgan Chase & Co. boosted its position in CEVA by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after acquiring an additional 41,573 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CEVA shares. Roth Mkm boosted their price target on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Rosenblatt Securities restated a “buy” rating and set a $35.00 target price on shares of CEVA in a research note on Tuesday. Finally, Northland Securities increased their price target on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

CEVA Stock Performance

Shares of CEVA opened at $32.15 on Wednesday. The stock has a 50-day moving average of $32.39 and a two-hundred day moving average of $27.11. The stock has a market cap of $759.61 million, a P/E ratio of -229.63 and a beta of 1.25. CEVA, Inc. has a one year low of $16.02 and a one year high of $34.71.

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.