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

CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $31.23 and last traded at $31.10, with a volume of 154274 shares traded. The stock had previously closed at $29.57.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CEVA. Rosenblatt Securities boosted their price objective on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Roth Mkm upped their target price on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Oppenheimer upped their target price on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.00.

CEVA Stock Performance

The business has a 50 day moving average price of $25.91 and a two-hundred day moving average price of $22.66.

Institutional Trading of CEVA

A number of institutional investors have recently made changes to their positions in CEVA. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of CEVA by 97.3% during 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 in the last quarter. Jane Street Group LLC raised its holdings 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 in the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of CEVA during the third quarter valued at approximately $2,053,000. Vanguard Group Inc. raised 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 valued at $67,428,000 after acquiring an additional 62,734 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new position in CEVA in the third quarter worth $1,343,000. Hedge funds and other 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.