CEVA (NASDAQ:CEVA) Sets New 52-Week High – Should You Buy?

CEVA, Inc. (NASDAQ:CEVA)’s stock price reached a new 52-week high during trading 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.

Analyst Upgrades and Downgrades

CEVA has been the topic of several research analyst reports. Roth Mkm raised their price target on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities lifted their target price on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Northland Securities upped their price target on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

CEVA Stock Up 2.6 %

The stock has a market capitalization of $807.57 million, a P/E ratio of -244.13 and a beta of 1.24. The business has a 50-day simple moving average of $30.88 and a two-hundred day simple moving average of $25.44.

Institutional Investors Weigh In On CEVA

A number of hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in CEVA by 97.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock worth $5,114,000 after buying an additional 104,453 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of CEVA by 206.2% in the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after acquiring an additional 92,295 shares in the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in CEVA during the 3rd quarter worth approximately $2,053,000. D.A. Davidson & CO. acquired a new stake in CEVA during the 3rd quarter valued at $1,343,000. Finally, Squarepoint Ops LLC bought a new position in CEVA in the 2nd quarter valued at $892,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

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.