Algert Global LLC Raises Position in CEVA, Inc. (NASDAQ:CEVA)

Algert Global LLC boosted its position in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 383.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,113 shares of the semiconductor company's stock after acquiring an additional 72,270 shares during the period. Algert Global LLC owned 0.39% of CEVA worth $2,875,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of CEVA by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock worth $2,801,000 after purchasing an additional 41,573 shares in the last quarter. Barclays PLC boosted its holdings in CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company's stock worth $1,011,000 after buying an additional 33,346 shares during the period. Franklin Resources Inc. increased its stake in CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company's stock worth $842,000 after buying an additional 12,515 shares in the last quarter. Sei Investments Co. raised its holdings in CEVA by 21.5% during the fourth quarter. Sei Investments Co. now owns 67,986 shares of the semiconductor company's stock valued at $2,145,000 after acquiring an additional 12,034 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of CEVA by 63.3% in the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company's stock valued at $75,000 after acquiring an additional 922 shares in the last quarter. Hedge funds and other institutional investors own 85.37% of the company's stock.

CEVA Trading Up 2.3%

Shares of NASDAQ:CEVA traded up $0.49 during mid-day trading on Tuesday, reaching $22.00. The stock had a trading volume of 92,899 shares, compared to its average volume of 218,729. The business's 50 day moving average price is $25.79 and its 200 day moving average price is $29.37. CEVA, Inc. has a 1 year low of $16.02 and a 1 year high of $38.94. The company has a market cap of $526.02 million, a P/E ratio of -59.46 and a beta of 1.37.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. The firm had revenue of $24.25 million for the quarter, compared to analysts' expectations of $26.55 million. During the same period last year, the company earned ($0.05) earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. Analysts predict that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at CEVA

In other news, Director Louis Silver sold 4,520 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the sale, the director now directly owns 47,038 shares in the company, valued at $1,457,237.24. The trade was a 8.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CEVA. Rosenblatt Securities reiterated a "buy" rating and set a $40.00 target price on shares of CEVA in a research report on Thursday, May 8th. StockNews.com downgraded CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Oppenheimer reduced their price objective on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Barclays lowered their target price on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

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.