CEVA, Inc. (NASDAQ:CEVA) Stock Position Increased by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 67.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,614 shares of the semiconductor company’s stock after buying an additional 211,697 shares during the quarter. Acadian Asset Management LLC owned 2.22% of CEVA worth $11,887,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of CEVA during the 4th quarter valued at about $474,000. Silverberg Bernstein Capital Management LLC bought a new stake in CEVA during the fourth quarter worth approximately $1,653,000. Louisiana State Employees Retirement System bought a new stake in CEVA during the fourth quarter worth approximately $268,000. Migdal Insurance & Financial Holdings Ltd. grew its position in CEVA by 13,776.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180,947 shares of the semiconductor company’s stock worth $4,110,000 after buying an additional 179,643 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of CEVA by 15.2% in the fourth quarter. New York State Common Retirement Fund now owns 9,200 shares of the semiconductor company’s stock valued at $209,000 after buying an additional 1,213 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

CEVA Stock Performance

Shares of NASDAQ:CEVA traded down $0.55 during mid-day trading on Friday, hitting $19.78. The stock had a trading volume of 96,892 shares, compared to its average volume of 154,458. The company’s 50 day moving average is $19.73 and its 200-day moving average is $20.90. CEVA, Inc. has a 12-month low of $16.38 and a 12-month high of $27.65. The company has a market cap of $466.41 million, a PE ratio of -37.32 and a beta of 1.15.

CEVA (NASDAQ:CEVA) last released its earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. The business had revenue of $22.07 million during the quarter, compared to analysts’ expectations of $23.06 million. On average, equities research analysts predict that CEVA, Inc. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Louis Silver sold 3,934 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $20.72, for a total value of $81,512.48. Following the transaction, the director now owns 40,576 shares in the company, valued at approximately $840,734.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their price objective on CEVA from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CEVA currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.