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

CEVA, Inc. (NASDAQ:CEVA)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $33.60 and last traded at $33.37, with a volume of 27985 shares. The stock had previously closed at $32.05.

Wall Street Analysts Forecast Growth

CEVA has been the topic of several analyst reports. Northland Securities lifted their target price on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Roth Mkm raised their price target on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities upped their price objective on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

CEVA Stock Up 3.4 %

The company has a market capitalization of $783.24 million, a PE ratio of -236.77 and a beta of 1.24. The firm’s 50-day moving average is $29.46 and its 200-day moving average is $24.62.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CEVA. Connor Clark & Lunn Investment Management Ltd. increased its position 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 acquiring an additional 104,453 shares during the period. Jane Street Group LLC raised its position in CEVA by 206.2% during the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after purchasing an additional 92,295 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in CEVA in the 3rd quarter worth approximately $2,053,000. D.A. Davidson & CO. bought a new stake in shares of CEVA in the 3rd quarter worth approximately $1,343,000. Finally, Squarepoint Ops LLC purchased a new position in shares of CEVA during the second quarter valued at approximately $892,000. 85.37% of the stock is 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.