CEVA (NASDAQ:CEVA) Reaches New 52-Week High – Should You Buy?

CEVA, Inc. (NASDAQ:CEVA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.74 and last traded at $25.71, with a volume of 5509 shares. The stock had previously closed at $25.26.

Analysts Set New Price Targets

CEVA has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $25.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.50.

CEVA Stock Up 0.1 %

The company has a market cap of $596.15 million, a PE ratio of -47.66 and a beta of 1.19. The firm’s fifty day simple moving average is $23.24 and its 200-day simple moving average is $21.23.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.14. The business had revenue of $28.44 million for the quarter, compared to the consensus estimate of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. On average, analysts predict that CEVA, Inc. will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On CEVA

Several institutional investors and hedge funds have recently modified their holdings of the company. Congress Asset Management Co. MA purchased a new position in CEVA during the fourth quarter worth approximately $383,000. BNP Paribas Financial Markets raised its stake in CEVA by 22.4% during the first quarter. BNP Paribas Financial Markets now owns 35,910 shares of the semiconductor company’s stock worth $816,000 after purchasing an additional 6,580 shares during the period. Swiss National Bank raised its stake in CEVA by 5.0% during the first quarter. Swiss National Bank now owns 46,500 shares of the semiconductor company’s stock worth $1,056,000 after purchasing an additional 2,200 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in CEVA during the first quarter worth approximately $245,000. Finally, Vanguard Group Inc. raised its stake in CEVA by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock worth $67,428,000 after purchasing an additional 62,734 shares during the period. 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.