Magnetar Financial LLC Has $623,000 Stake in CEVA, Inc. (NASDAQ:CEVA)

Magnetar Financial LLC lifted its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,743 shares of the semiconductor company’s stock after purchasing an additional 531 shares during the period. Magnetar Financial LLC owned approximately 0.08% of CEVA worth $623,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of CEVA during the fourth quarter worth approximately $40,000. Point72 DIFC Ltd lifted its holdings in CEVA by 16.8% in the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 378 shares during the period. GAMMA Investing LLC lifted its holdings in 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 buying an additional 922 shares during the period. FMR LLC lifted its holdings in CEVA by 56.4% in the third quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 1,230 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in CEVA in the fourth quarter valued at approximately $215,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Stock Performance

CEVA opened at $28.35 on Friday. The firm’s fifty day moving average is $32.78 and its two-hundred day moving average is $29.25. The firm has a market cap of $674.93 million, a PE ratio of -76.62 and a beta of 1.32. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94.

CEVA (NASDAQ:CEVA) last posted 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 return on equity of 2.48% and a negative net margin of 8.22%. Equities analysts forecast that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Louis Silver sold 4,520 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th. Barclays increased their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Northland Securities increased their price objective on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CEVA has a consensus rating of “Moderate Buy” and an average price target of $36.60.

CEVA Company 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.