CEVA (NASDAQ:CEVA) Hits New 52-Week High – Here’s What Happened

CEVA, Inc. (NASDAQ:CEVA) reached a new 52-week high on Tuesday . The company traded as high as $34.46 and last traded at $34.59, with a volume of 374621 shares trading hands. The stock had previously closed at $33.33.

Analysts Set New Price Targets

Several equities analysts have weighed in on CEVA shares. Rosenblatt Securities lifted 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. Roth Mkm raised their price objective on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northland Securities upped their price target on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CEVA has an average rating of “Moderate Buy” and a consensus target price of $34.20.

CEVA Trading Up 1.2 %

The company has a market cap of $817.60 million, a PE ratio of -247.13 and a beta of 1.24. The firm has a 50 day moving average of $31.12 and a two-hundred day moving average of $25.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CEVA. Dimensional Fund Advisors LP raised its position in shares of CEVA by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock valued at $16,110,000 after buying an additional 44,502 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CEVA by 0.7% during the third quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock valued at $13,505,000 after acquiring an additional 3,649 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in CEVA by 5.5% in the third quarter. Rice Hall James & Associates LLC now owns 452,541 shares of the semiconductor company’s stock worth $10,929,000 after purchasing an additional 23,566 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CEVA by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock worth $5,385,000 after purchasing an additional 16,463 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in CEVA by 97.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after purchasing an additional 104,453 shares in the last quarter. 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.