CEVA (NASDAQ:CEVA) Reaches New 12-Month High - Still a Buy?

CEVA, Inc. (NASDAQ:CEVA - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $33.60 and last traded at $33.37, with a volume of 27985 shares traded. The stock had previously closed at $32.05.

Wall Street Analyst Weigh In

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

CEVA Stock Performance

The business has a 50 day moving average of $29.63 and a two-hundred day moving average of $24.76. The firm has a market capitalization of $783.00 million, a price-to-earnings ratio of -236.70 and a beta of 1.24.

Institutional Trading of CEVA

Several hedge funds have recently bought and sold shares of the business. Jane Street Group LLC lifted its stake in shares of CEVA by 206.2% in the third 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 in the last quarter. Barclays PLC raised its holdings in shares of CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company's stock worth $1,011,000 after acquiring an additional 33,346 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CEVA by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company's stock valued at $5,385,000 after acquiring an additional 16,463 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in CEVA by 97.3% during the 3rd 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 last quarter. Finally, Stifel Financial Corp increased its holdings in CEVA by 31.7% during the 3rd quarter. Stifel Financial Corp now owns 117,497 shares of the semiconductor company's stock worth $2,838,000 after purchasing an additional 28,248 shares in the last quarter. Institutional investors and hedge funds own 85.37% of the company's stock.

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.