Connor Clark & Lunn Investment Management Ltd. Buys 2,613 Shares of CEVA, Inc. (NASDAQ:CEVA)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CEVA, Inc. (NASDAQ:CEVA) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 214,384 shares of the semiconductor company’s stock after buying an additional 2,613 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CEVA were worth $6,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 779 shares in the last quarter. GSA Capital Partners LLP bought a new stake in CEVA in the 3rd quarter valued at $263,000. Aigen Investment Management LP acquired a new position in shares of CEVA in the 3rd quarter valued at $213,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CEVA by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock worth $5,385,000 after acquiring an additional 16,463 shares during the period. Finally, Algert Global LLC boosted its position in shares of CEVA by 35.2% during the 3rd quarter. Algert Global LLC now owns 18,843 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 4,910 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

Wall Street Analyst Weigh In

CEVA has been the subject of a number of analyst reports. Northland Securities raised their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Barclays boosted their price target on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 price objective on shares of CEVA in a research note on Tuesday, February 11th. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.60.

CEVA Stock Performance

Shares of NASDAQ:CEVA opened at $30.85 on Friday. The business has a fifty day moving average of $33.08 and a 200-day moving average of $29.08. The firm has a market cap of $734.45 million, a PE ratio of -83.38 and a beta of 1.32. CEVA, Inc. has a twelve month low of $16.02 and a twelve month high of $38.94.

CEVA (NASDAQ:CEVA) last posted 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%. On average, analysts anticipate that CEVA, Inc. will post -0.12 EPS 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.