CEVA (NASDAQ:CEVA) Reaches New 52-Week High - Here's Why

CEVA, Inc. (NASDAQ:CEVA - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $34.28 and last traded at $34.21, with a volume of 88683 shares changing hands. The stock had previously closed at $32.30.

Analyst Ratings Changes

CEVA has been the subject of several recent analyst reports. Northland Securities raised 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. Roth Mkm raised their price objective on CEVA from $25.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Rosenblatt Securities upped their target price on CEVA from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com lowered shares of CEVA from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CEVA presently has an average rating of "Moderate Buy" and an average price target of $34.20.

CEVA Stock Performance

The firm has a market capitalization of $797.88 million, a P/E ratio of -241.20 and a beta of 1.24. The stock has a fifty day moving average price of $30.63 and a two-hundred day moving average price of $25.33.

Institutional Trading of CEVA

Several institutional investors have recently added to or reduced their stakes in CEVA. US Bancorp DE boosted its holdings in shares of CEVA by 125.8% in the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company's stock valued at $34,000 after buying an additional 779 shares during the period. GAMMA Investing LLC raised its position in shares of CEVA by 338.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 1,125 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of CEVA during the 2nd quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in CEVA during the 2nd quarter valued at approximately $65,000. Finally, FMR LLC grew its stake in CEVA by 56.4% during the 3rd quarter. FMR LLC now owns 3,409 shares of the semiconductor company's stock worth $82,000 after buying an additional 1,230 shares during the last quarter. Institutional investors 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.

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