CEVA (NASDAQ:CEVA) Sets New 52-Week High – What’s Next?

Shares of CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high during trading on Tuesday . The company traded as high as $34.46 and last traded at $34.59, with a volume of 374621 shares. The stock had previously closed at $33.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CEVA shares. Roth Mkm upped their target price on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Northland Securities boosted their price objective 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, Rosenblatt Securities boosted their price target on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, CEVA has an average rating of “Moderate Buy” and a consensus target price of $34.20.

CEVA Trading Up 1.2 %

The firm has a fifty day moving average price of $31.12 and a 200 day moving average price of $25.76. The firm has a market capitalization of $817.60 million, a price-to-earnings ratio of -247.13 and a beta of 1.24.

Institutional Investors Weigh In On CEVA

Several hedge funds have recently bought and sold shares of CEVA. 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 valued at $3,310,000 after purchasing an additional 92,295 shares during the last quarter. Barclays PLC lifted its stake in CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after purchasing an additional 33,346 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CEVA by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock worth $5,385,000 after acquiring an additional 16,463 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in CEVA by 97.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after acquiring an additional 104,453 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in CEVA by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock valued at $13,505,000 after purchasing an additional 3,649 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

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.