Point72 Asia Singapore Pte. Ltd. Makes New Investment in CEVA, Inc. (NASDAQ:CEVA)

Point72 Asia Singapore Pte. Ltd. bought a new position in CEVA, Inc. (NASDAQ:CEVA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,385 shares of the semiconductor company’s stock, valued at approximately $65,000.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in CEVA in the second quarter worth approximately $43,000. nVerses Capital LLC bought a new stake in shares of CEVA during the 2nd quarter worth $50,000. State Board of Administration of Florida Retirement System bought a new stake in shares of CEVA during the 1st quarter worth $245,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of CEVA during the 2nd quarter worth $227,000. Finally, Algert Global LLC boosted its holdings in shares of CEVA by 46.0% during the 2nd quarter. Algert Global LLC now owns 13,933 shares of the semiconductor company’s stock worth $269,000 after buying an additional 4,390 shares during the period. 85.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CEVA shares. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Oppenheimer increased their price target on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.00 to $25.00 in a research note 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.50.

CEVA Stock Performance

Shares of CEVA stock opened at $24.99 on Friday. CEVA, Inc. has a 52-week low of $16.02 and a 52-week high of $25.54. The stock has a market cap of $589.31 million, a price-to-earnings ratio of -47.15 and a beta of 1.19. The firm has a fifty day moving average of $22.68 and a 200-day moving average of $21.17.

CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $28.44 million during the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. On average, sell-side analysts predict that CEVA, Inc. will post -0.31 earnings per share for the current 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.