CEVA (NASDAQ:CEVA) Reaches New 12-Month High – Still a Buy?

CEVA, Inc. (NASDAQ:CEVA)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $33.60 and last traded at $33.37, with a volume of 27985 shares traded. The stock had previously closed at $32.05.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Northland Securities upped their target price on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Roth Mkm increased their price objective on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

CEVA Stock Up 3.4 %

The company has a fifty day simple moving average of $29.46 and a 200-day simple moving average of $24.62. The firm has a market cap of $783.24 million, a P/E ratio of -236.77 and a beta of 1.24.

Hedge Funds Weigh In On CEVA

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its holdings in shares of CEVA by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after purchasing an additional 43,266 shares during the last quarter. Quest Partners LLC bought a new stake in CEVA in the 2nd quarter worth approximately $395,000. American Century Companies Inc. boosted its position in shares of CEVA by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock valued at $621,000 after acquiring an additional 5,119 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of CEVA in the second quarter valued at $530,000. Finally, Dimensional Fund Advisors LP increased its position in CEVA by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock worth $16,110,000 after purchasing an additional 44,502 shares during the last quarter. 85.37% of the stock is currently owned by hedge funds and other 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.