ExodusPoint Capital Management LP Raises Stock Holdings in CEVA, Inc. (NASDAQ:CEVA)

ExodusPoint Capital Management LP increased its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 357.4% in the fourth quarter, HoldingsChannel reports. The firm owned 40,846 shares of the semiconductor company’s stock after buying an additional 31,915 shares during the period. ExodusPoint Capital Management LP’s holdings in CEVA were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CEVA. Harvest Fund Management Co. Ltd purchased a new stake in shares of CEVA during the 4th quarter worth $40,000. Meeder Asset Management Inc. acquired a new position in CEVA during the 4th quarter valued at about $46,000. GAMMA Investing LLC increased its position in CEVA by 63.3% during the 4th 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 in the last quarter. FMR LLC increased its position in CEVA by 56.4% during the 3rd 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 in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in CEVA during the 4th quarter valued at about $129,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CEVA has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. Northland Securities upped their target price on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Barclays upped their target price on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Insider Buying and Selling

In related news, Director Louis Silver sold 4,520 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the sale, the director now directly owns 47,038 shares of the company’s stock, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

CEVA Stock Performance

Shares of CEVA stock opened at $24.74 on Thursday. The stock’s 50-day simple moving average is $30.28 and its 200-day simple moving average is $29.39. The firm has a market capitalization of $591.53 million, a PE ratio of -66.86 and a beta of 1.46. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.94.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share 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%. Sell-side analysts forecast that CEVA, Inc. will post -0.12 earnings per share for the current year.

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.