KLP Kapitalforvaltning AS Makes New $129,000 Investment in CEVA, Inc. (NASDAQ:CEVA)

KLP Kapitalforvaltning AS acquired a new position in shares of CEVA, Inc. (NASDAQ:CEVA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,100 shares of the semiconductor company’s stock, valued at approximately $129,000.

Several other large investors have also recently bought and sold shares of CEVA. Jane Street Group LLC increased its position in CEVA by 206.2% during the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after buying an additional 92,295 shares during the period. JPMorgan Chase & Co. increased its position in CEVA by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock worth $2,801,000 after acquiring an additional 41,573 shares during the period. Barclays PLC increased its position in CEVA by 389.8% during the third quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock worth $1,011,000 after acquiring an additional 33,346 shares during the period. Stifel Financial Corp boosted its stake in shares of CEVA by 31.7% in the third quarter. Stifel Financial Corp now owns 117,497 shares of the semiconductor company’s stock valued at $2,838,000 after buying an additional 28,248 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CEVA by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after acquiring an additional 16,463 shares during the period. 85.37% of the stock is owned by institutional investors.

Insider Buying and Selling at CEVA

In other news, Director Louis Silver sold 4,520 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the sale, the director now directly owns 47,038 shares in the company, valued at $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

CEVA Stock Up 20.7 %

Shares of CEVA stock opened at $24.74 on Thursday. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94. The stock’s fifty 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 P/E ratio of -66.86 and a beta of 1.46.

CEVA (NASDAQ:CEVA) last posted 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%. As a group, equities research analysts expect that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

CEVA has been the subject of several recent analyst reports. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Barclays upped their price target on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Rosenblatt Securities restated a “buy” rating and set a $35.00 price objective on shares of CEVA in a research report 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 analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average 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.