17,101 Shares in CEVA, Inc. (NASDAQ:CEVA) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new stake in CEVA, Inc. (NASDAQ:CEVA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,101 shares of the semiconductor company’s stock, valued at approximately $330,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of CEVA by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after purchasing an additional 62,734 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CEVA by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock valued at $16,110,000 after buying an additional 44,502 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of CEVA by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after acquiring an additional 43,266 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of CEVA by 1,693.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after acquiring an additional 303,673 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC boosted its stake in shares of CEVA by 3.9% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 71,824 shares of the semiconductor company’s stock worth $1,385,000 after acquiring an additional 2,700 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

CEVA Stock Up 3.1 %

NASDAQ CEVA opened at $25.26 on Monday. The stock has a market cap of $595.68 million, a price-to-earnings ratio of -47.66 and a beta of 1.19. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $25.54. The business has a fifty day moving average of $23.24 and a 200-day moving average of $21.24.

CEVA (NASDAQ:CEVA) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.14. The firm 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%. As a group, analysts anticipate that CEVA, Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CEVA. Oppenheimer lifted their price objective on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Roth Mkm raised 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CEVA presently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

About CEVA

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.