Magnetar Financial LLC Buys Shares of 16,132 CEVA, Inc. (NASDAQ:CEVA)

Magnetar Financial LLC purchased a new position in shares of CEVA, Inc. (NASDAQ:CEVA) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 16,132 shares of the semiconductor company’s stock, valued at approximately $311,000. Magnetar Financial LLC owned approximately 0.07% of CEVA at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in CEVA by 122.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,163 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 641 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of CEVA during the 2nd quarter worth about $50,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CEVA during the 1st quarter valued at about $245,000. Congress Asset Management Co. MA bought a new position in shares of CEVA in the 4th quarter valued at approximately $383,000. Finally, Tidal Investments LLC acquired a new stake in CEVA in the 1st quarter worth approximately $423,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Trading Up 0.1 %

Shares of CEVA stock opened at $24.01 on Thursday. The firm has a market capitalization of $568.80 million, a P/E ratio of -45.30 and a beta of 1.19. CEVA, Inc. has a 1 year low of $16.02 and a 1 year high of $25.43. The firm’s fifty day simple moving average is $22.08 and its 200 day simple moving average is $21.13.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. The company had revenue of $28.44 million for the quarter, compared to the consensus estimate of $24.47 million. Equities research analysts anticipate that CEVA, Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

CEVA has been the topic of several analyst reports. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $25.00 in a report on Thursday, August 8th. Finally, Oppenheimer boosted their target price on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.50.

CEVA Company 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.