CEVA (NASDAQ:CEVA) Hits New 12-Month High – Here’s What Happened

CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high on Thursday . The stock traded as high as $29.75 and last traded at $29.01, with a volume of 35740 shares traded. The stock had previously closed at $25.18.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $25.00 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 note on Wednesday, August 21st. Oppenheimer boosted their price objective on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $28.00 target price on shares of CEVA in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.50.

CEVA Stock Performance

The company has a market cap of $684.53 million, a P/E ratio of -100.69 and a beta of 1.20. The business’s fifty day moving average is $24.05 and its two-hundred day moving average is $21.56.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $28.44 million during the quarter, compared to analyst estimates of $24.47 million. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. Analysts expect that CEVA, Inc. will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CEVA. US Bancorp DE increased its position in shares of CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 779 shares in the last quarter. GAMMA Investing LLC grew its stake in CEVA by 338.9% during the 3rd 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 purchased a new position in CEVA during the 2nd quarter worth $43,000. nVerses Capital LLC purchased a new stake in CEVA in the second quarter valued at about $50,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of CEVA in the second quarter worth $65,000. 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.