Principal Financial Group Inc. Boosts Stock Position in CEVA, Inc. (NASDAQ:CEVA)

Principal Financial Group Inc. boosted its stake in CEVA, Inc. (NASDAQ:CEVA) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,265 shares of the semiconductor company’s stock after buying an additional 3,171 shares during the period. Principal Financial Group Inc. owned 0.49% of CEVA worth $3,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 779 shares during the last quarter. Point72 DIFC Ltd increased its position in shares of CEVA by 16.8% during the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 378 shares in the last quarter. GAMMA Investing LLC grew its position in CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 922 shares during the period. FMR LLC grew its position in CEVA by 56.4% in the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 1,230 shares during the period. Finally, Aigen Investment Management LP bought a new stake in CEVA in the 3rd quarter worth approximately $213,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CEVA. Northland Securities lifted their target price on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays lifted their target price on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. Finally, Roth Mkm lifted their target price on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, CEVA currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

CEVA Price Performance

NASDAQ:CEVA opened at $32.98 on Wednesday. The firm has a market capitalization of $779.22 million, a price-to-earnings ratio of -89.13 and a beta of 1.25. CEVA, Inc. has a one year low of $16.02 and a one year high of $38.94. The business has a fifty day moving average price of $33.22 and a 200-day moving average price of $28.71.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. On average, equities research analysts expect that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

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.