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

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

Analyst Upgrades and Downgrades

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

CEVA Trading Up 1.2 %

The firm has a market capitalization of $758.85 million, a PE ratio of -233.00 and a beta of 1.25. The stock’s 50 day moving average price is $32.41 and its two-hundred day moving average price is $27.19.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CEVA. Polymer Capital Management US LLC acquired a new position in shares of CEVA in the fourth quarter valued at approximately $246,000. Wells Fargo & Company MN increased its stake in CEVA by 22.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,225 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 4,294 shares during the last quarter. ExodusPoint Capital Management LP lifted its position in CEVA by 357.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 40,846 shares of the semiconductor company’s stock worth $1,289,000 after buying an additional 31,915 shares during the period. Trexquant Investment LP boosted its stake in CEVA by 69.8% in the 4th quarter. Trexquant Investment LP now owns 69,514 shares of the semiconductor company’s stock worth $2,193,000 after buying an additional 28,584 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in CEVA by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 33,939 shares of the semiconductor company’s stock valued at $1,071,000 after buying an additional 507 shares during the period. Institutional investors and hedge funds 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.