CEVA (NASDAQ:CEVA) Sets New 12-Month High – Time to Buy?

CEVA, Inc. (NASDAQ:CEVA) reached a new 52-week high on Thursday . The stock traded as high as $37.75 and last traded at $34.03, with a volume of 58814 shares trading hands. The stock had previously closed at $31.72.

Analyst Upgrades and Downgrades

A number of equities 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. Barclays boosted their price target on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday. Roth Mkm increased their price objective on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and set a $35.00 target price on shares of CEVA in a research report on Tuesday. Finally, Northland Securities upped their target price on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, CEVA presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.17.

CEVA Stock Performance

The stock has a 50-day moving average price of $32.52 and a two-hundred day moving average price of $27.28.

CEVA (NASDAQ:CEVA) last posted its quarterly earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.69% and a negative net margin of 3.22%. As a group, sell-side analysts predict that CEVA, Inc. will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On CEVA

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 779 shares during the period. GAMMA Investing LLC lifted its holdings in CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,125 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in CEVA in the 4th quarter worth approximately $40,000. Meeder Asset Management Inc. purchased a new stake in CEVA during the 4th quarter valued at approximately $46,000. Finally, Point72 DIFC Ltd raised its position in shares of CEVA by 16.8% during the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 378 shares during the last quarter. Hedge funds and other 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.