Migdal Insurance & Financial Holdings Ltd. Purchases 179,643 Shares of CEVA, Inc. (NASDAQ:CEVA)

Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of CEVA, Inc. (NASDAQ:CEVA) by 13,776.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 180,947 shares of the semiconductor company’s stock after acquiring an additional 179,643 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.77% of CEVA worth $4,110,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of CEVA by 99.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 798 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of CEVA by 122.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,992 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 1,097 shares during the period. Captrust Financial Advisors raised its position in shares of CEVA by 36.5% in the 1st quarter. Captrust Financial Advisors now owns 2,129 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 569 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of CEVA in the 1st quarter valued at approximately $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CEVA by 64.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,108 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,617 shares during the period. Institutional investors own 85.37% of the company’s stock.

Analyst Ratings Changes

CEVA has been the topic of several research analyst reports. TD Cowen raised their target price on shares of CEVA from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price objective on shares of CEVA in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CEVA has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Insider Activity

In other CEVA news, Director Louis Silver sold 4,730 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $23.19, for a total transaction of $109,688.70. Following the completion of the sale, the director now owns 40,576 shares of the company’s stock, valued at approximately $940,957.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

CEVA Trading Down 2.4 %

Shares of NASDAQ:CEVA traded down $0.49 on Wednesday, hitting $19.92. The company had a trading volume of 36,536 shares, compared to its average volume of 137,226. CEVA, Inc. has a 1-year low of $16.38 and a 1-year high of $28.78. The stock has a market cap of $469.75 million, a price-to-earnings ratio of -39.49 and a beta of 1.14. The stock has a 50 day moving average price of $22.61 and a 200 day moving average price of $21.34.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $24.16 million during the quarter, compared to analysts’ expectations of $24.32 million. CEVA had a negative net margin of 11.52% and a negative return on equity of 5.30%. CEVA’s revenue was down 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. Sell-side analysts anticipate that CEVA, Inc. will post -0.35 earnings per share for the current fiscal 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.