Point72 DIFC Ltd Purchases Shares of 2,254 CEVA, Inc. (NASDAQ:CEVA)

Point72 DIFC Ltd bought a new position in CEVA, Inc. (NASDAQ:CEVA) during the 2nd quarter, Holdings Channel.com reports. The firm bought 2,254 shares of the semiconductor company’s stock, valued at approximately $43,000.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in CEVA in the second quarter worth about $50,000. State Board of Administration of Florida Retirement System purchased a new stake in CEVA in the first quarter worth $245,000. Magnetar Financial LLC bought a new position in CEVA in the second quarter worth $311,000. Congress Asset Management Co. MA purchased a new position in CEVA during the fourth quarter valued at $383,000. Finally, Tidal Investments LLC bought a new stake in shares of CEVA during the 1st quarter valued at $423,000. Institutional investors own 85.37% of the company’s stock.

CEVA Stock Performance

Shares of CEVA stock opened at $24.35 on Monday. The company has a market capitalization of $576.85 million, a price-to-earnings ratio of -45.94 and a beta of 1.19. CEVA, Inc. has a one year low of $16.02 and a one year high of $25.54. The company’s 50-day moving average is $22.27 and its 200 day moving average is $21.13.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $25.00 in a report on Thursday, August 8th. Finally, StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

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.