Point72 DIFC Ltd Invests $43,000 in CEVA, Inc. (NASDAQ:CEVA)

Point72 DIFC Ltd acquired a new stake in shares of CEVA, Inc. (NASDAQ:CEVA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,254 shares of the semiconductor company’s stock, valued at approximately $43,000.

Other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in CEVA in the 2nd quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of CEVA during the 2nd quarter worth about $65,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of CEVA in the second quarter worth approximately $227,000. State Board of Administration of Florida Retirement System acquired a new position in CEVA during the first quarter worth approximately $245,000. Finally, Algert Global LLC increased its position in CEVA by 46.0% during the second quarter. Algert Global LLC now owns 13,933 shares of the semiconductor company’s stock worth $269,000 after purchasing an additional 4,390 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

CEVA Trading Down 0.8 %

Shares of CEVA stock opened at $24.50 on Friday. The company has a fifty day moving average price of $22.59 and a 200 day moving average price of $21.17. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $25.54. The stock has a market cap of $580.41 million, a price-to-earnings ratio of -46.23 and a beta of 1.19.

CEVA (NASDAQ:CEVA) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $28.44 million during the quarter, compared to analyst estimates of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. Analysts forecast that CEVA, Inc. will post -0.31 earnings per share for the current year.

Analyst Ratings Changes

CEVA has been the subject of several research reports. Oppenheimer boosted their price objective on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CEVA presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

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.