CEVA (NASDAQ:CEVA) Hits New 1-Year High - Here's Why

CEVA, Inc. (NASDAQ:CEVA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.75 and last traded at $34.03, with a volume of 58814 shares. The stock had previously closed at $31.72.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th. Northland Securities raised their target price on CEVA from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. Roth Mkm boosted their price target on CEVA from $25.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Barclays lifted their target price on CEVA from $34.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday. Finally, StockNews.com cut shares of 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 five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.60.

CEVA Trading Down 0.8 %

The business's 50-day simple moving average is $32.58 and its two-hundred day simple moving average is $27.49. The firm has a market cap of $819.25 million, a price-to-earnings ratio of -247.63 and a beta of 1.25.

CEVA (NASDAQ:CEVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative return on equity of 2.69% and a negative net margin of 3.22%. On average, analysts forecast that CEVA, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its stake in CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 779 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of CEVA in the 4th quarter valued at $40,000. Meeder Asset Management Inc. acquired a new position in shares of CEVA during the 4th quarter valued at $46,000. Point72 DIFC Ltd grew its holdings in CEVA by 16.8% in the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 378 shares during the period. Finally, GAMMA Investing LLC increased its position in CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company's stock valued at $75,000 after buying an additional 922 shares in the last quarter. 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.