CEVA (NASDAQ:CEVA) Hits New 1-Year High – Here’s Why

CEVA, Inc. (NASDAQ:CEVA)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $31.23 and last traded at $31.10, with a volume of 154274 shares trading hands. The stock had previously closed at $29.57.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Oppenheimer raised their target price on CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Rosenblatt Securities raised 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. Finally, Roth Mkm raised 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CEVA currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

CEVA Stock Up 5.1 %

The firm has a fifty day moving average of $25.91 and a two-hundred day moving average of $22.66.

Institutional Investors Weigh In On CEVA

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE grew 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 valued at $34,000 after buying an additional 779 shares in the last quarter. GAMMA Investing LLC grew its holdings in CEVA by 338.9% during the 3rd 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 in the last quarter. Point72 DIFC Ltd purchased a new position in CEVA during the 2nd quarter valued at about $43,000. nVerses Capital LLC purchased a new position in CEVA during the 2nd quarter valued at about $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in CEVA during the 2nd quarter valued at about $65,000. Hedge funds and other 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.