Arizona State Retirement System Buys Shares of 6,866 CEVA, Inc. (NASDAQ:CEVA)

Arizona State Retirement System bought a new stake in CEVA, Inc. (NASDAQ:CEVA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,866 shares of the semiconductor company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in shares of CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 779 shares during the period. GAMMA Investing LLC raised its position 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 valued at $75,000 after purchasing an additional 922 shares during the period. Point72 DIFC Ltd raised its position in shares of 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 purchasing an additional 378 shares during the period. FMR LLC increased its holdings in CEVA by 56.4% during the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 1,230 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in CEVA during the 4th quarter worth approximately $215,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

CEVA Price Performance

CEVA stock opened at $30.85 on Friday. CEVA, Inc. has a one year low of $16.02 and a one year high of $38.94. The stock has a market cap of $734.45 million, a PE ratio of -83.38 and a beta of 1.32. The firm has a 50 day simple moving average of $33.08 and a two-hundred day simple moving average of $29.08.

CEVA (NASDAQ:CEVA) last released its quarterly earnings results 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 return on equity of 2.48% and a negative net margin of 8.22%. On average, research analysts expect that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.