CEVA, Inc. (NASDAQ:CEVA) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of CEVA, Inc. (NASDAQ:CEVA - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,788 shares of the semiconductor company's stock after purchasing an additional 35,809 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.64% of CEVA worth $4,789,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CEVA. Barclays PLC increased its holdings in shares of CEVA by 389.8% in the third quarter. Barclays PLC now owns 41,900 shares of the semiconductor company's stock valued at $1,011,000 after purchasing an additional 33,346 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CEVA by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company's stock worth $13,505,000 after buying an additional 3,649 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company's stock valued at $842,000 after buying an additional 12,515 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in CEVA in the third quarter valued at $233,000. Finally, FMR LLC grew its holdings in shares of CEVA by 56.4% during 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 during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Louis Silver sold 4,520 shares of the company'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 completion of the transaction, the director now owns 47,038 shares in the company, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CEVA. Barclays boosted 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. StockNews.com downgraded CEVA from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $45.00 price target on shares of CEVA in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.60.

CEVA Stock Up 2.4 %

Shares of CEVA stock traded up $0.61 during trading hours on Thursday, hitting $26.13. 21,685 shares of the company's stock traded hands, compared to its average volume of 208,454. The company has a market cap of $624.84 million, a PE ratio of -70.73 and a beta of 1.46. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94. The stock has a 50 day simple moving average of $28.32 and a 200-day simple moving average of $29.27.

CEVA (NASDAQ:CEVA - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.22% and a negative return on equity of 2.48%. As a group, equities research analysts predict that CEVA, Inc. will post -0.12 EPS for the current year.

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.