CEVA (NASDAQ:CEVA) Sets New 1-Year High – Time to Buy?

CEVA, Inc. (NASDAQ:CEVA)’s share price hit 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. The stock had previously closed at $33.33.

Analyst Upgrades and Downgrades

CEVA has been the subject of a number of recent analyst reports. Roth Mkm upped their price objective on CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northland Securities increased their price target on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Rosenblatt Securities increased their target price on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

CEVA Stock Performance

The firm’s fifty day simple moving average is $31.24 and its 200 day simple moving average is $25.86.

Hedge Funds Weigh In On CEVA

A number of large investors have recently added to or reduced their stakes in CEVA. Point72 DIFC Ltd boosted its position in shares of CEVA by 16.8% during the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock worth $64,000 after buying an additional 378 shares during the period. Centaurus Financial Inc. lifted its stake in CEVA by 2.5% in the 3rd quarter. Centaurus Financial Inc. now owns 18,083 shares of the semiconductor company’s stock valued at $437,000 after acquiring an additional 433 shares in the last quarter. US Bancorp DE boosted its position in CEVA by 125.8% during the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 779 shares during the last quarter. Tidal Investments LLC grew its stake in shares of CEVA by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock worth $441,000 after acquiring an additional 808 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CEVA by 63.3% in the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 922 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.