CEVA (NASDAQ:CEVA) Reaches New 52-Week High – Here’s Why

CEVA, Inc. (NASDAQ:CEVA)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $34.28 and last traded at $34.21, with a volume of 88683 shares changing hands. The stock had previously closed at $32.30.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CEVA. Roth Mkm boosted their target price on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Northland Securities boosted their price objective on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Rosenblatt Securities increased their price objective on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, CEVA presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

CEVA Price Performance

The firm has a market capitalization of $797.88 million, a P/E ratio of -241.20 and a beta of 1.24. The firm’s fifty day moving average price is $30.63 and its 200-day moving average price is $25.33.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in shares of 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 buying an additional 92,295 shares during the period. Barclays PLC raised its position in CEVA by 389.8% in the third quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock worth $1,011,000 after acquiring an additional 33,346 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CEVA by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after acquiring an additional 16,463 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of CEVA by 97.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after purchasing an additional 104,453 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 valued at $13,505,000 after purchasing an additional 3,649 shares in the last quarter. 85.37% of the stock is owned by institutional investors.

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.