Counterpoint Mutual Funds LLC Invests $324,000 in CEVA, Inc. (NASDAQ:CEVA)

Counterpoint Mutual Funds LLC acquired a new position in CEVA, Inc. (NASDAQ:CEVA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,277 shares of the semiconductor company’s stock, valued at approximately $324,000.

Several other institutional investors have also recently bought and sold shares of CEVA. Connor Clark & Lunn Investment Management Ltd. raised its position in CEVA by 97.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock worth $5,114,000 after purchasing an additional 104,453 shares during the last quarter. Jane Street Group LLC raised its position in CEVA by 206.2% in the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after purchasing an additional 92,295 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in CEVA in the 3rd quarter worth approximately $2,053,000. D.A. Davidson & CO. bought a new position in CEVA in the 3rd quarter worth approximately $1,343,000. Finally, JPMorgan Chase & Co. raised its position in CEVA by 55.9% in the 3rd 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 during the last quarter. Institutional investors own 85.37% of the company’s stock.

CEVA Stock Down 0.6 %

CEVA opened at $30.65 on Tuesday. CEVA, Inc. has a 12 month low of $16.02 and a 12 month high of $38.94. The company has a fifty day simple moving average of $33.03 and a 200 day simple moving average of $29.17. The stock has a market cap of $729.68 million, a P/E ratio of -82.84 and a beta of 1.32.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. On average, equities research analysts expect that CEVA, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays boosted their price objective 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. Northland Securities upped their target price on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

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.