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

CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.40 and last traded at $33.40, with a volume of 279 shares changing hands. The stock had previously closed at $32.22.

Wall Street Analysts Forecast Growth

CEVA has been the topic of a number of analyst reports. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Roth Mkm lifted their target price on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities increased their price objective on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CEVA currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

CEVA Stock Down 0.3 %

The stock has a 50-day moving average of $27.78 and a 200 day moving average of $23.68. The stock has a market cap of $730.55 million, a PE ratio of -220.84 and a beta of 1.27.

Institutional Trading of CEVA

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 779 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of CEVA by 338.9% in the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after buying an additional 1,125 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in CEVA during the second quarter worth about $43,000. nVerses Capital LLC purchased a new position in CEVA during the second quarter valued at approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in CEVA in the second quarter valued at approximately $65,000. Institutional investors and hedge funds 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.