CEVA (NASDAQ:CEVA) Sets New 52-Week High – Still a Buy?

CEVA, Inc. (NASDAQ:CEVA) shares hit 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 traded. The stock had previously closed at $28.67.

Analysts Set New Price Targets

Several research firms have commented on CEVA. Rosenblatt Securities lifted their price objective on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Roth Mkm increased their price objective 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. StockNews.com downgraded shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Oppenheimer increased their price target on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

CEVA Stock Performance

The company has a market cap of $719.21 million, a P/E ratio of -217.43 and a beta of 1.20. The business’s fifty day moving average is $25.16 and its two-hundred day moving average is $22.24.

Institutional Trading of CEVA

A number of large investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in CEVA by 125.8% during the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 779 shares during the period. GAMMA Investing LLC increased its stake in shares of CEVA by 338.9% during the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 1,125 shares during the period. Point72 DIFC Ltd bought a new stake in shares of CEVA in the second quarter valued at about $43,000. nVerses Capital LLC purchased a new stake in CEVA in the second quarter worth about $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in CEVA during the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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.