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

Ceva, Inc. (NASDAQ:CEVA) shares reached a new 52-week high on Monday . The stock traded as high as $51.60 and last traded at $49.0750, with a volume of 99446 shares. The stock had previously closed at $49.72.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Ceva from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Rosenblatt Securities boosted their target price on shares of Ceva from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. TD Cowen upped their target price on shares of Ceva from $24.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Needham & Company LLC began coverage on shares of Ceva in a research report on Monday, June 15th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Roth Mkm reiterated a “buy” rating and set a $40.00 price target on shares of Ceva in a research note on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Ceva Trading Down 2.1%

The firm has a market capitalization of $1.36 billion, a PE ratio of -108.14 and a beta of 2.00. The business has a 50-day moving average of $36.06 and a 200 day moving average of $26.41.

Ceva (NASDAQ:CEVA) last posted its quarterly earnings data on Monday, May 11th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Ceva had a negative net margin of 10.47% and a negative return on equity of 3.42%. The firm had revenue of $27.02 million for the quarter, compared to the consensus estimate of $26.12 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Ceva, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silverberg Bernstein Capital Management LLC raised its stake in shares of Ceva by 0.3% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 140,617 shares of the semiconductor company’s stock valued at $2,627,000 after purchasing an additional 470 shares during the period. Centaurus Financial Inc. lifted its holdings in Ceva by 2.6% during the 3rd quarter. Centaurus Financial Inc. now owns 21,905 shares of the semiconductor company’s stock worth $579,000 after purchasing an additional 550 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Ceva by 77.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,446 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 632 shares during the period. Sanctuary Advisors LLC boosted its stake in Ceva by 7.1% in the 4th quarter. Sanctuary Advisors LLC now owns 10,230 shares of the semiconductor company’s stock worth $220,000 after purchasing an additional 674 shares during the period. Finally, Rice Hall James & Associates LLC grew its holdings in Ceva by 0.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 403,756 shares of the semiconductor company’s stock valued at $8,689,000 after buying an additional 1,234 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Ceva Company Profile

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.