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

CEVA, Inc. (NASDAQ:CEVA)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.75 and last traded at $29.01, with a volume of 35740 shares changing hands. The stock had previously closed at $25.18.

Wall Street Analyst Weigh In

Several research firms recently commented on CEVA. Oppenheimer raised their price target on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Rosenblatt Securities restated a “buy” rating and set a $28.00 target price on shares of CEVA in a research report on Thursday, October 31st. Roth Mkm upgraded CEVA from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. Finally, StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.50.

CEVA Stock Performance

The stock has a market capitalization of $684.53 million, a PE ratio of -100.69 and a beta of 1.20. The stock’s 50 day moving average is $24.05 and its two-hundred day moving average is $21.56.

CEVA (NASDAQ:CEVA) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $28.44 million during the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. Equities research analysts expect that CEVA, Inc. will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after buying an additional 62,734 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in CEVA by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock valued at $16,110,000 after acquiring an additional 44,502 shares in the last quarter. Acadian Asset Management LLC raised its holdings in CEVA by 8.3% in the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after acquiring an additional 43,266 shares during the last quarter. Rice Hall James & Associates LLC raised its holdings in CEVA by 5.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 452,541 shares of the semiconductor company’s stock valued at $10,929,000 after acquiring an additional 23,566 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in CEVA by 1,693.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after purchasing an additional 303,673 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

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.