Short Interest in CEVA, Inc. (NASDAQ:CEVA) Rises By 13.9%

CEVA, Inc. (NASDAQ:CEVA) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 683,100 shares, a growth of 13.9% from the January 15th total of 599,900 shares. Based on an average daily trading volume, of 275,700 shares, the short-interest ratio is presently 2.5 days.

CEVA Stock Performance

NASDAQ CEVA traded down $0.29 during mid-day trading on Monday, reaching $34.67. 236,674 shares of the stock were exchanged, compared to its average volume of 341,120. CEVA has a 1 year low of $16.02 and a 1 year high of $37.75. The business’s 50 day moving average is $32.65 and its 200-day moving average is $27.60. The company has a market capitalization of $819.25 million, a P/E ratio of -247.63 and a beta of 1.25.

CEVA (NASDAQ:CEVA) last announced its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative net margin of 3.22% and a negative return on equity of 2.69%. Equities analysts predict that CEVA will post -0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on CEVA shares. Northland Securities increased their price target on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Roth Mkm lifted their target price on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and set a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. Barclays lifted their price objective on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.60.

Institutional Trading of CEVA

Several institutional investors have recently modified their holdings of CEVA. SG Americas Securities LLC purchased a new position in CEVA in the 3rd quarter valued at about $296,000. GAMMA Investing LLC raised its holdings in shares of CEVA by 338.9% during the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 1,125 shares during the last quarter. Creative Planning purchased a new position in shares of CEVA in the third quarter valued at approximately $503,000. US Bancorp DE boosted its stake in shares of CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 779 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of CEVA by 5.5% in the third quarter. Rice Hall James & Associates LLC now owns 452,541 shares of the semiconductor company’s stock worth $10,929,000 after acquiring an additional 23,566 shares during the last quarter. Institutional investors and hedge funds 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.