CEVA (NASDAQ:CEVA) Reaches New 1-Year High – Still a Buy?

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Roth Mkm boosted their price objective on CEVA from $25.00 to $40.00 and gave the stock 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 report on Friday, November 15th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.00.

CEVA Price Performance

The company has a market cap of $770.95 million, a price-to-earnings ratio of -233.07 and a beta of 1.27. The business’s fifty day moving average price is $27.04 and its 200 day moving average price is $23.26.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in shares of CEVA during the second quarter worth about $50,000. Acadian Asset Management LLC increased its position in CEVA by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after purchasing an additional 43,266 shares during the period. Quest Partners LLC acquired a new stake in CEVA during the 2nd quarter valued at approximately $395,000. American Century Companies Inc. raised its holdings in CEVA by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 5,119 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of CEVA in the 2nd quarter worth approximately $530,000. 85.37% of the stock is owned by institutional investors.

About CEVA

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.