Meeder Asset Management Inc. Makes New $46,000 Investment in CEVA, Inc. (NASDAQ:CEVA)

Meeder Asset Management Inc. bought a new stake in CEVA, Inc. (NASDAQ:CEVA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,457 shares of the semiconductor company’s stock, valued at approximately $46,000.

Several other hedge funds have also made changes to their positions in CEVA. Jane Street Group LLC lifted its holdings in CEVA by 206.2% in the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after acquiring an additional 92,295 shares during the last quarter. Norges Bank acquired a new position in shares of CEVA in the 4th quarter valued at $2,817,000. ArrowMark Colorado Holdings LLC purchased a new position in shares of CEVA during the 3rd quarter worth $2,053,000. JPMorgan Chase & Co. increased its position in shares of CEVA by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 41,573 shares during the last quarter. Finally, Barclays PLC raised its holdings in CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after buying an additional 33,346 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CEVA. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays increased their target price on CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. Finally, Northland Securities increased their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Insider Buying and Selling at CEVA

In other news, Director Louis Silver sold 4,520 shares of the company’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 of the company’s stock, valued at approximately $1,457,237.24. This represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by insiders.

CEVA Stock Performance

CEVA stock opened at $25.75 on Wednesday. The company’s 50 day moving average price is $31.88 and its 200 day moving average price is $29.50. The firm has a market capitalization of $615.68 million, a price-to-earnings ratio of -69.59 and a beta of 1.32. CEVA, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $38.94.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) EPS 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%. Equities analysts forecast that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

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.