CEVA (NASDAQ:CEVA) Hits New 52-Week High – Time to Buy?

CEVA, Inc. (NASDAQ:CEVA)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $32.59 and last traded at $32.59, with a volume of 46297 shares changing hands. The stock had previously closed at $31.24.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Roth Mkm lifted their price target on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities lifted their price target on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CEVA currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

CEVA Trading Up 3.7 %

The firm has a market capitalization of $765.28 million, a price-to-earnings ratio of -223.14 and a beta of 1.27. The stock has a fifty day moving average of $26.73 and a 200-day moving average of $23.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CEVA. nVerses Capital LLC purchased a new position in shares of CEVA during the second quarter valued at $50,000. Acadian Asset Management LLC grew its holdings in shares of CEVA by 8.3% during the second quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after buying an additional 43,266 shares in the last quarter. Quest Partners LLC purchased a new position in shares of CEVA during the second quarter valued at $395,000. American Century Companies Inc. grew its holdings in shares of CEVA by 18.9% during the second quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 5,119 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in CEVA during the second quarter valued at $530,000. 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.