CEVA, Inc. (NASDAQ:CEVA) Short Interest Update

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,340,000 shares, an increase of 16.5% from the February 13th total of 1,150,000 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily trading volume, of 305,000 shares, the short-interest ratio is currently 4.4 days.

Wall Street Analyst Weigh In

CEVA has been the subject of several analyst reports. Northland Securities boosted their target price on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Rosenblatt Securities restated a “buy” rating and set a $35.00 target price on shares of CEVA in a research note on Tuesday, February 11th. Finally, Barclays lifted their price target on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

CEVA Stock Up 0.8 %

CEVA stock opened at $30.02 on Thursday. The business has a 50 day moving average price of $32.92 and a 200 day moving average price of $29.22. The stock has a market cap of $714.69 million, a price-to-earnings ratio of -81.13 and a beta of 1.32. CEVA has a fifty-two week low of $16.02 and a fifty-two week high of $38.94.

CEVA (NASDAQ:CEVA) last released its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. As a group, sell-side analysts anticipate that CEVA will post -0.12 EPS for the current year.

Insider Buying and Selling

In other CEVA news, Director Louis Silver sold 4,520 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the transaction, the director now owns 47,038 shares in the company, valued at $1,457,237.24. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On CEVA

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in shares of CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 779 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CEVA during the 4th quarter worth approximately $40,000. Meeder Asset Management Inc. acquired a new position in CEVA during the fourth quarter worth approximately $46,000. Point72 DIFC Ltd lifted its stake in CEVA by 16.8% in the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in CEVA by 63.3% in the 4th quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 922 shares during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

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.