Corebridge Financial Inc. Has $392,000 Holdings in CEVA, Inc. (NASDAQ:CEVA)

Corebridge Financial Inc. decreased its holdings in CEVA, Inc. (NASDAQ:CEVA) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,425 shares of the semiconductor company’s stock after selling 973 shares during the period. Corebridge Financial Inc.’s holdings in CEVA were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Magnetar Financial LLC increased its position in CEVA by 2.8% during the 4th quarter. Magnetar Financial LLC now owns 19,743 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 531 shares during the period. Tidal Investments LLC boosted its position in shares of CEVA by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock valued at $441,000 after purchasing an additional 808 shares in the last quarter. GAMMA Investing LLC grew its stake in CEVA by 63.3% during the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 922 shares during the period. FMR LLC increased its holdings in CEVA by 56.4% in the third quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in CEVA in the fourth quarter valued at approximately $40,000. 85.37% of the stock is currently owned by institutional investors.

CEVA Stock Performance

Shares of NASDAQ CEVA opened at $24.74 on Thursday. The stock has a market cap of $591.53 million, a price-to-earnings 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. The firm’s 50-day simple moving average is $30.28 and its 200 day simple moving average is $29.39.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 research note on Monday, December 23rd. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. Finally, Barclays raised their price objective on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the transaction, the director now directly owns 47,038 shares in the company, valued at approximately $1,457,237.24. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

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.