CEVA (NASDAQ:CEVA) Hits New 1-Year High at $25.54

CEVA, Inc. (NASDAQ:CEVA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.54 and last traded at $25.46, with a volume of 94090 shares trading hands. The stock had previously closed at $24.01.

Wall Street Analysts Forecast Growth

CEVA has been the subject of several recent research reports. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Oppenheimer upped their price target 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, Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $25.00 in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CEVA currently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

CEVA Price Performance

The company’s 50-day moving average price is $22.08 and its two-hundred day moving average price is $21.13. The company has a market capitalization of $595.09 million, a price-to-earnings ratio of -45.30 and a beta of 1.19.

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

Institutional Investors Weigh In On CEVA

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in CEVA by 2.2% in 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. Dimensional Fund Advisors LP grew its holdings in CEVA by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock worth $16,110,000 after purchasing an additional 44,502 shares during the period. Acadian Asset Management LLC grew its holdings in shares of CEVA by 8.3% during the second quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after buying an additional 43,266 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of CEVA by 1,693.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock valued at $7,284,000 after buying an additional 303,673 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC grew its holdings in shares of CEVA by 3.9% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 71,824 shares of the semiconductor company’s stock valued at $1,385,000 after buying an additional 2,700 shares during the last quarter. 85.37% of the stock is currently 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.