CEVA (NASDAQ:CEVA) Sets New 1-Year High – Here’s What Happened

CEVA, Inc. (NASDAQ:CEVA)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company 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.

Analyst Ratings Changes

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

CEVA Stock Performance

The stock has a 50 day moving average price of $26.19 and a 200 day moving average price of $22.79. The company has a market cap of $714.24 million, a P/E ratio of -215.64 and a beta of 1.27.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CEVA. US Bancorp DE raised its position in CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 779 shares in the last quarter. GAMMA Investing LLC increased its position in CEVA by 338.9% during the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after buying an additional 1,125 shares during the last quarter. Point72 DIFC Ltd bought a new position in CEVA during the second quarter valued at about $43,000. nVerses Capital LLC acquired a new stake in shares of CEVA in the second quarter worth about $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CEVA during the 2nd quarter worth about $65,000. 85.37% of the stock is owned by institutional investors and hedge funds.

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.