Magnetar Financial LLC Buys 531 Shares of CEVA, Inc. (NASDAQ:CEVA)

Magnetar Financial LLC raised its holdings in CEVA, Inc. (NASDAQ:CEVA) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,743 shares of the semiconductor company’s stock after buying an additional 531 shares during the period. Magnetar Financial LLC’s holdings in CEVA were worth $623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CEVA. Harvest Fund Management Co. Ltd bought a new position in shares of CEVA in the 4th quarter valued at about $40,000. Point72 DIFC Ltd raised its holdings in CEVA by 16.8% during the third 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. GAMMA Investing LLC raised its holdings in CEVA by 63.3% during the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 922 shares in the last quarter. FMR LLC raised its holdings in CEVA by 56.4% during the third quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in CEVA during the fourth quarter worth about $215,000. 85.37% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Louis Silver sold 4,520 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

CEVA Stock Down 2.9 %

Shares of NASDAQ CEVA opened at $28.35 on Friday. The business’s 50 day moving average price is $32.78 and its two-hundred day moving average price is $29.25. The company has a market cap of $674.93 million, a PE ratio of -76.62 and a beta of 1.32. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94.

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

Wall Street Analyst Weigh In

CEVA has been the topic of several analyst reports. Barclays upped their target price on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Northland Securities upped their target price on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 target price on shares of CEVA in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.60.

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.