CEVA (NASDAQ:CEVA) Hits New 12-Month High – Here’s Why

CEVA, Inc. (NASDAQ:CEVA)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $34.28 and last traded at $34.21, with a volume of 88683 shares traded. The stock had previously closed at $32.30.

Analyst Ratings Changes

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

CEVA Trading Up 2.6 %

The stock has a 50 day moving average price of $30.88 and a two-hundred day moving average price of $25.44. The company has a market cap of $807.57 million, a price-to-earnings ratio of -244.13 and a beta of 1.24.

Institutional Trading of CEVA

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 valued at $5,114,000 after purchasing an additional 104,453 shares during the period. Jane Street Group LLC grew its holdings in shares of CEVA by 206.2% in the 3rd 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 3rd quarter valued at $2,053,000. D.A. Davidson & CO. bought a new stake in shares of CEVA in the 3rd quarter valued at $1,343,000. Finally, Squarepoint Ops LLC acquired a new stake in CEVA during the 2nd quarter worth $892,000. 85.37% of the stock is owned by institutional investors.

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.