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

CEVA, Inc. (NASDAQ:CEVA - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $34.46 and last traded at $34.59, with a volume of 374621 shares changing hands. The stock had previously closed at $33.33.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CEVA shares. Rosenblatt Securities lifted their price target on shares of CEVA from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com lowered CEVA from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Northland Securities lifted their price target on CEVA from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Finally, Roth Mkm increased 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.20.

CEVA Price Performance

The company has a market capitalization of $809.09 million, a PE ratio of -244.55 and a beta of 1.24. The business's 50 day simple moving average is $31.12 and its 200 day simple moving average is $25.76.

Institutional Trading of CEVA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased its position in shares of CEVA by 206.2% during the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company's stock valued at $3,310,000 after acquiring an additional 92,295 shares during the last quarter. Barclays PLC lifted its stake in CEVA by 389.8% during the third quarter. Barclays PLC now owns 41,900 shares of the semiconductor company's stock worth $1,011,000 after purchasing an additional 33,346 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CEVA by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company's stock valued at $5,385,000 after buying an additional 16,463 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CEVA by 97.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company's stock valued at $5,114,000 after buying an additional 104,453 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CEVA by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company's stock worth $13,505,000 after acquiring an additional 3,649 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other 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.