CEVA (NASDAQ:CEVA) Reaches New 12-Month High – What’s Next?

CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high on Thursday . The company traded as high as $38.93 and last traded at $38.44, with a volume of 1003362 shares traded. The stock had previously closed at $32.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Northland Securities boosted their price target on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 target price on shares of CEVA in a research report on Tuesday, February 11th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upped their target price on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, 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. One 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 an average price target of $36.60.

CEVA Price Performance

The firm has a market cap of $809.46 million, a price-to-earnings ratio of -92.59 and a beta of 1.25. The stock has a 50-day moving average of $33.21 and a 200-day moving average of $28.50.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. On average, equities analysts expect that CEVA, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On CEVA

Several institutional investors and hedge funds have recently added to or reduced their stakes in CEVA. ArrowMark Colorado Holdings LLC lifted its stake in CEVA by 199.6% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company’s stock worth $8,035,000 after purchasing an additional 169,677 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted 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 purchasing an additional 104,453 shares during the last quarter. Jane Street Group LLC lifted 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 purchasing an additional 92,295 shares during the last quarter. AWM Investment Company Inc. lifted its stake in CEVA by 18.0% during the fourth quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock worth $18,935,000 after purchasing an additional 91,668 shares during the last quarter. Finally, Norges Bank bought a new position in shares of CEVA in the 4th quarter valued at $2,817,000. 85.37% of the stock is currently owned by 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.