CEVA (NASDAQ:CEVA) Sets New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

Several analysts have issued reports on CEVA shares. Rosenblatt Securities increased their target price on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Roth Mkm lifted their target price on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Northland Securities increased their price target on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CEVA has a consensus rating of “Moderate Buy” and an average price target of $34.20.

CEVA Trading Down 2.0 %

The company has a 50-day moving average of $29.79 and a 200-day moving average of $24.86. The company has a market capitalization of $765.51 million, a price-to-earnings ratio of -231.41 and a beta of 1.24.

Hedge Funds Weigh In On CEVA

Several hedge funds have recently modified their holdings of CEVA. Acadian Asset Management LLC grew its position in CEVA by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock worth $10,931,000 after purchasing an additional 43,266 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of CEVA during the second quarter valued at $395,000. American Century Companies Inc. grew its holdings in shares of CEVA by 18.9% during the second quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 5,119 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of CEVA in the 2nd quarter valued at $530,000. Finally, Dimensional Fund Advisors LP raised its stake in CEVA by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock worth $16,110,000 after acquiring an additional 44,502 shares during the last quarter. 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.