CEVA (NASDAQ:CEVA) Sets New 12-Month High - Here's What Happened

CEVA, Inc. (NASDAQ:CEVA - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The company traded as high as $30.46 and last traded at $30.18, with a volume of 108530 shares. The stock had previously closed at $28.67.

Analyst Ratings Changes

Several brokerages have recently issued reports on CEVA. StockNews.com cut shares of CEVA from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Rosenblatt Securities raised their price objective on CEVA from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, November 8th. 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. Finally, Oppenheimer raised their price objective on CEVA from $29.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CEVA has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

CEVA Trading Up 6.2 %

The stock has a market capitalization of $719.30 million, a P/E ratio of -204.88 and a beta of 1.20. The stock has a 50 day moving average of $25.05 and a 200-day moving average of $22.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its position 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 worth $34,000 after purchasing an additional 779 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CEVA by 338.9% in the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 1,125 shares during the last quarter. Point72 DIFC Ltd purchased a new position in CEVA in the second quarter worth approximately $43,000. nVerses Capital LLC purchased a new position in CEVA in the second quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of CEVA during the second quarter worth $65,000. 85.37% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.