Ceva (NASDAQ:CEVA) Reaches New 52-Week High – Time to Buy?

Ceva, Inc. (NASDAQ:CEVA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $51.60 and last traded at $49.0750, with a volume of 99446 shares traded. The stock had previously closed at $49.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CEVA. Oppenheimer raised their price objective on shares of Ceva from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. initiated coverage on shares of Ceva in a research note on Friday, May 8th. They issued a “neutral” rating and a $30.00 target price on the stock. TD Cowen raised their price target on shares of Ceva from $24.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Needham & Company LLC initiated coverage on shares of Ceva in a report on Monday, June 15th. They issued a “buy” rating and a $55.00 price target for the company. Finally, UBS Group boosted their price target on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Ceva Stock Performance

The stock has a market cap of $1.36 billion, a P/E ratio of -108.14 and a beta of 2.00. The stock has a 50-day moving average price of $36.06 and a 200-day moving average price of $26.41.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $27.02 million for the quarter, compared to analysts’ expectations of $26.12 million. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. Ceva’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Sell-side analysts forecast that Ceva, Inc. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceva

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its position in shares of Ceva by 77.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 632 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Ceva by 422.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,731 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,208 shares in the last quarter. Russell Investments Group Ltd. grew its position in Ceva by 771.8% in the third quarter. Russell Investments Group Ltd. now owns 2,380 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 2,107 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ceva by 47.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,758 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 2,172 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Ceva by 15.4% in the fourth quarter. Intech Investment Management LLC now owns 9,415 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 1,258 shares during the last quarter. Hedge funds and other institutional investors own 85.37% of the company’s stock.

Ceva Company Profile

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.