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

CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high on Wednesday . The stock traded as high as $33.40 and last traded at $33.40, with a volume of 279 shares. The stock had previously closed at $32.22.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities lifted their price objective 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. Roth Mkm increased their price target on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of 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 four have assigned a buy rating to the company. According to MarketBeat, CEVA has an average rating of “Moderate Buy” and a consensus price target of $34.00.

CEVA Stock Performance

The company has a market capitalization of $770.24 million, a price-to-earnings ratio of -230.14 and a beta of 1.27. The stock’s 50-day moving average price is $27.52 and its 200-day moving average price is $23.58.

Institutional Trading of CEVA

A number of institutional investors have recently bought and sold shares of CEVA. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 worth $5,114,000 after purchasing an additional 104,453 shares in the last quarter. Jane Street Group LLC raised 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 worth $3,310,000 after acquiring an additional 92,295 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of CEVA in the third quarter valued at $2,053,000. D.A. Davidson & CO. acquired a new stake in shares of CEVA during the third quarter valued at $1,343,000. Finally, Squarepoint Ops LLC purchased a new stake in CEVA during the 2nd quarter worth about $892,000. 85.37% of the stock is currently 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.