89,300 Shares in CEVA, Inc. (NASDAQ:CEVA) Purchased by Norges Bank

Norges Bank acquired a new stake in CEVA, Inc. (NASDAQ:CEVA) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 89,300 shares of the semiconductor company’s stock, valued at approximately $2,817,000.

Several other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of CEVA in the fourth quarter valued at approximately $40,000. GAMMA Investing LLC grew its stake in CEVA by 63.3% in 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 period. FMR LLC grew its stake in CEVA by 56.4% in the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 1,230 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of CEVA during the 4th quarter worth $129,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of CEVA in the 4th quarter worth about $215,000. Institutional investors own 85.37% of the company’s stock.

Insider Buying and Selling

In related news, Director Louis Silver sold 4,520 shares of the business’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 completion of the transaction, the director now directly owns 47,038 shares in the company, valued at $1,457,237.24. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.

CEVA Stock Performance

Shares of NASDAQ CEVA opened at $22.85 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 $546.34 million, a PE ratio of -61.76 and a beta of 1.46. The stock has a fifty day moving average of $30.11 and a 200-day moving average of $29.38.

CEVA (NASDAQ:CEVA) last posted its earnings results 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%. On average, sell-side analysts predict that CEVA, Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays lifted their price objective on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Rosenblatt Securities reissued a “buy” rating and set a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th. Northland Securities boosted their target price on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

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.