Hood River Capital Management LLC Makes New Investment in CEVA, Inc. (NASDAQ:CEVA)

Hood River Capital Management LLC bought a new position in CEVA, Inc. (NASDAQ:CEVA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,979 shares of the semiconductor company's stock, valued at approximately $473,000. Hood River Capital Management LLC owned approximately 0.06% of CEVA as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CEVA. Harvest Fund Management Co. Ltd acquired a new position in shares of CEVA in the fourth quarter worth $40,000. Meeder Asset Management Inc. acquired a new position in shares of CEVA in the fourth quarter worth $46,000. GAMMA Investing LLC increased its stake 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 worth $75,000 after acquiring an additional 922 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of CEVA in the fourth quarter worth $129,000. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of CEVA in the fourth quarter worth $215,000. Institutional investors and hedge funds own 85.37% of the company's stock.

Wall Street Analysts Forecast Growth

CEVA has been the topic of several analyst reports. StockNews.com downgraded shares of CEVA from a "buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Rosenblatt Securities reissued a "buy" rating and set a $45.00 target price on shares of CEVA in a research report on Wednesday, April 23rd. Finally, Barclays increased their target price on shares of CEVA from $34.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.60.

CEVA Price Performance

Shares of NASDAQ CEVA traded up $0.13 during mid-day trading on Tuesday, hitting $26.72. The company had a trading volume of 30,120 shares, compared to its average volume of 209,469. The business's 50-day simple moving average is $27.79 and its 200-day simple moving average is $29.38. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $38.94. The firm has a market cap of $638.88 million, a P/E ratio of -71.90 and a beta of 1.46.

CEVA (NASDAQ:CEVA - Get Free Report) last released its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. As a group, sell-side analysts predict that CEVA, Inc. will post -0.12 EPS for the current year.

Insider Activity at CEVA

In related news, Director Louis Silver sold 4,520 shares of the 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 completion of the sale, the director now owns 47,038 shares in the company, valued at approximately $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

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.