Harvest Fund Management Co. Ltd Makes New $40,000 Investment in CEVA, Inc. (NASDAQ:CEVA)

Harvest Fund Management Co. Ltd acquired a new stake in shares of CEVA, Inc. (NASDAQ:CEVA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,280 shares of the semiconductor company’s stock, valued at approximately $40,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake 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 purchasing an additional 922 shares during the last quarter. Point72 DIFC Ltd boosted its position 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 last quarter. FMR LLC increased its holdings in CEVA by 56.4% in the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after buying an additional 1,230 shares during the period. Cornerstone Investment Partners LLC acquired a new position in CEVA in the 4th quarter worth approximately $215,000. Finally, Arizona State Retirement System purchased a new position in CEVA during the 4th quarter worth approximately $217,000. 85.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares of the company’s stock, valued at approximately $1,457,237.24. The trade was a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

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

CEVA Stock Performance

CEVA opened at $28.35 on Monday. The company has a fifty day moving average of $32.78 and a two-hundred day moving average of $29.34. The stock has a market capitalization of $674.93 million, a price-to-earnings ratio of -76.62 and a beta of 1.32. 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 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 net margin of 8.22% and a negative return on equity of 2.48%. On average, equities research analysts forecast that CEVA, Inc. will post -0.12 earnings per share for the current year.

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.