CEVA, Inc. (NASDAQ:CEVA) Short Interest Down 8.9% in January

CEVA, Inc. (NASDAQ:CEVA) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 617,300 shares, a decrease of 8.9% from the December 31st total of 677,700 shares. Based on an average trading volume of 198,000 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Ratings Changes

Several research firms recently commented on CEVA. Northland Securities raised their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Roth Mkm raised their target price on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities boosted their price target on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of CEVA by 97.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after buying an additional 104,453 shares during the period. Jane Street Group LLC boosted its position in CEVA by 206.2% during the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock worth $3,310,000 after purchasing an additional 92,295 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in CEVA in the third quarter valued at approximately $2,053,000. D.A. Davidson & CO. purchased a new stake in shares of CEVA in the third quarter valued at approximately $1,343,000. Finally, Squarepoint Ops LLC acquired a new position in shares of CEVA during the 2nd quarter worth approximately $892,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Price Performance

Shares of CEVA opened at $31.36 on Monday. The company’s fifty day moving average price is $31.98 and its 200-day moving average price is $26.57. The firm has a market capitalization of $740.97 million, a PE ratio of -224.20 and a beta of 1.25. CEVA has a 1-year low of $16.02 and a 1-year high of $34.71.

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.