Sei Investments Co. Purchases 12,034 Shares of CEVA, Inc. (NASDAQ:CEVA)

Sei Investments Co. boosted its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,986 shares of the semiconductor company’s stock after buying an additional 12,034 shares during the period. Sei Investments Co. owned approximately 0.29% of CEVA worth $2,145,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Point72 DIFC Ltd boosted its position in shares of CEVA by 16.8% during the 3rd quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 378 shares in the last quarter. Magnetar Financial LLC lifted its stake in CEVA by 2.8% during the fourth quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 531 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of CEVA by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock valued at $441,000 after purchasing an additional 808 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 922 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of CEVA by 56.4% during the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after buying an additional 1,230 shares in the last quarter. 85.37% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Louis Silver sold 4,520 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CEVA. Northland Securities raised their price objective on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Barclays increased their target price on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price objective on shares of CEVA in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CEVA has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

CEVA Trading Down 5.6 %

Shares of CEVA stock opened at $21.28 on Friday. The firm has a market capitalization of $508.80 million, a price-to-earnings ratio of -57.51 and a beta of 1.46. The business’s 50-day moving average price is $31.25 and its 200-day moving average price is $29.46. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $38.94.

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