NEW YORK (

TheStreet

) --

CEVA

(Nasdaq:

CEVA

) hit a new 52-week high Wednesday as it is currently trading at $32.32, above its previous 52-week high of $31.95 with 112,414 shares traded as of 11:12 a.m. ET. Average volume has been 197,500 shares over the past 30 days.

CEVA has a market cap of $721 million and is part of the

technology

sector and

electronics

industry. Shares are up 51.4% year to date as of the close of trading on Tuesday.

CEVA, Inc. and its subsidiaries engage in designing and licensing silicon intellectual property (SIP) for the handsets, portable multimedia, and consumer electronics markets. The company has a P/E ratio of 51.3, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates CEVA as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

CEVA Ratings Report

.

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