CEVA (NASDAQ:CEVA) Hits New 52-Week High – Time to Buy?

CEVA, Inc. (NASDAQ:CEVA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.59 and last traded at $32.59, with a volume of 46297 shares trading hands. The stock had previously closed at $31.24.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Rosenblatt Securities increased their price objective on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Roth Mkm increased 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

CEVA Stock Performance

The company has a market cap of $765.28 million, a P/E ratio of -223.14 and a beta of 1.27. The stock has a 50-day simple moving average of $26.73 and a 200 day simple moving average of $23.13.

Hedge Funds Weigh In On CEVA

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company’s stock valued at $842,000 after purchasing an additional 12,515 shares during the last quarter. Tidal Investments LLC raised its position in CEVA by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock valued at $441,000 after purchasing an additional 808 shares during the last quarter. Sanctuary Advisors LLC bought a new position in CEVA in the 3rd quarter valued at $233,000. Barclays PLC raised its position in CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after purchasing an additional 33,346 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in CEVA by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock valued at $13,505,000 after purchasing an additional 3,649 shares during the last quarter. Institutional investors own 85.37% of the company’s stock.

About CEVA

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.