CEVA (NASDAQ:CEVA) Reaches New 12-Month High – Here’s Why

CEVA, Inc. (NASDAQ:CEVA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $30.46 and last traded at $30.18, with a volume of 108530 shares. The stock had previously closed at $28.67.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Oppenheimer lifted their price objective on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Rosenblatt Securities lifted their price objective on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Roth Mkm boosted their price target on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

CEVA Stock Performance

The firm has a market capitalization of $719.30 million, a price-to-earnings ratio of -204.88 and a beta of 1.20. The business has a fifty day moving average price of $25.05 and a 200 day moving average price of $22.17.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. CANADA LIFE ASSURANCE Co raised its stake in CEVA by 1,693.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after acquiring an additional 303,673 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised 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 acquiring an additional 104,453 shares during the period. Jane Street Group LLC raised its stake in CEVA by 206.2% during the third 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 during the period. ArrowMark Colorado Holdings LLC acquired a new stake in CEVA during the third quarter worth about $2,053,000. Finally, Vanguard Group Inc. raised its stake in CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after acquiring an additional 62,734 shares during the period. 85.37% of the stock is owned by hedge funds and other institutional investors.

About CEVA

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.