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

CEVA, Inc. (NASDAQ:CEVA)’s share 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.

Analyst Ratings Changes

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

CEVA Price Performance

The stock’s fifty day moving average price is $29.79 and its 200 day moving average price is $24.86. The stock has a market capitalization of $765.51 million, a P/E ratio of -231.41 and a beta of 1.24.

Institutional Trading of CEVA

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 during the period. Jane Street Group LLC increased its stake in shares of CEVA by 206.2% during the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after buying an additional 92,295 shares during the period. ArrowMark Colorado Holdings LLC bought a new stake in shares of CEVA in the third quarter valued at about $2,053,000. D.A. Davidson & CO. purchased a new stake in CEVA in the third quarter worth about $1,343,000. Finally, Squarepoint Ops LLC bought a new position in CEVA during the 2nd quarter worth about $892,000. Institutional investors 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.