GAMMA Investing LLC Has $2.25 Million Stake in CEVA, Inc. (NASDAQ:CEVA)

GAMMA Investing LLC lifted its holdings in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 3,600.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,022 shares of the semiconductor company's stock after buying an additional 85,643 shares during the quarter. GAMMA Investing LLC owned about 0.37% of CEVA worth $2,254,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in CEVA during the 4th quarter worth approximately $40,000. Meeder Asset Management Inc. bought a new position in CEVA during the 4th quarter worth approximately $46,000. KLP Kapitalforvaltning AS bought a new position in CEVA during the 4th quarter worth approximately $129,000. Cornerstone Investment Partners LLC bought a new position in CEVA in the fourth quarter valued at approximately $215,000. Finally, Arizona State Retirement System bought a new position in CEVA in the fourth quarter valued at approximately $217,000. Institutional investors and hedge funds own 85.37% of the company's stock.

CEVA Stock Down 6.5%

NASDAQ CEVA opened at $19.89 on Friday. The company has a market capitalization of $475.57 million, a PE ratio of -53.76 and a beta of 1.23. CEVA, Inc. has a 12-month low of $16.02 and a 12-month high of $38.94. The firm's 50 day moving average is $22.27 and its 200-day moving average is $28.32.

CEVA (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $26.55 million. During the same period last year, the company posted ($0.05) earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that CEVA, Inc. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

CEVA has been the topic of a number of research reports. Oppenheimer cut their price target on shares of CEVA from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wall Street Zen lowered shares of CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of CEVA in a research note on Thursday, May 8th. Finally, Barclays cut their price target on shares of CEVA from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.60.

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.

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