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

Arizona State Retirement System purchased a new stake in CEVA, Inc. (NASDAQ:CEVA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,866 shares of the semiconductor company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cornerstone Investment Partners LLC bought a new stake in CEVA in the fourth quarter valued at $215,000. Charles Schwab Investment Management Inc. grew its holdings in shares of CEVA by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,745 shares of the semiconductor company’s stock valued at $7,154,000 after buying an additional 3,783 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of CEVA by 7.9% during the fourth quarter. D.A. Davidson & CO. now owns 60,014 shares of the semiconductor company’s stock valued at $1,893,000 after buying an additional 4,417 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of CEVA by 2.8% during the fourth quarter. Principal Financial Group Inc. now owns 115,265 shares of the semiconductor company’s stock valued at $3,637,000 after buying an additional 3,171 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of CEVA by 2.8% during the fourth quarter. Rhumbline Advisers now owns 73,270 shares of the semiconductor company’s stock valued at $2,312,000 after buying an additional 2,027 shares during the last quarter. 85.37% of the stock is owned by institutional investors.

CEVA Stock Performance

CEVA stock opened at $30.85 on Friday. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week 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’s 50-day simple moving average is $33.08 and its 200 day simple moving average is $29.08.

CEVA (NASDAQ:CEVA) last released 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 return on equity of 2.48% and a negative net margin of 8.22%. As a group, analysts predict that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CEVA. Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th. Barclays lifted their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Northland Securities lifted their price objective on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

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.