Connor Clark & Lunn Investment Management Ltd. Increases Stake in CEVA, Inc. (NASDAQ:CEVA)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 97.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 211,771 shares of the semiconductor company's stock after acquiring an additional 104,453 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.89% of CEVA worth $5,114,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of CEVA by 125.8% in the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 779 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CEVA by 338.9% during the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 1,125 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of CEVA in the 2nd quarter worth about $43,000. nVerses Capital LLC bought a new stake in CEVA during the 2nd quarter valued at about $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CEVA in the second quarter worth about $65,000. Institutional investors own 85.37% of the company's stock.

CEVA Stock Up 6.2 %

NASDAQ:CEVA traded up $1.77 during mid-day trading on Friday, hitting $30.44. 363,491 shares of the company traded hands, compared to its average volume of 152,092. The stock's fifty day moving average price is $25.16 and its 200-day moving average price is $22.25. The firm has a market cap of $719.21 million, a price-to-earnings ratio of -217.43 and a beta of 1.20. CEVA, Inc. has a one year low of $16.02 and a one year high of $30.81.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CEVA shares. Rosenblatt Securities upped their price objective on CEVA from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Roth Mkm raised their target price on CEVA from $25.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Oppenheimer boosted their price target on CEVA from $29.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of CEVA from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CEVA has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

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.