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

CEVA, Inc. (NASDAQ:CEVA) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 683,100 shares, an increase of 13.9% from the January 15th total of 599,900 shares. Based on an average trading volume of 275,700 shares, the days-to-cover ratio is currently 2.5 days.

CEVA Stock Down 0.8 %

NASDAQ:CEVA traded down $0.29 during midday trading on Monday, hitting $34.67. The stock had a trading volume of 236,674 shares, compared to its average volume of 341,120. The stock has a 50-day moving average of $32.65 and a 200 day moving average of $27.60. The company has a market capitalization of $819.25 million, a price-to-earnings ratio of -247.63 and a beta of 1.25. CEVA has a one year low of $16.02 and a one year high of $37.75.

CEVA (NASDAQ:CEVA) last posted its quarterly 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 return on equity of 2.69% and a negative net margin of 3.22%. On average, sell-side analysts anticipate that CEVA will post -0.25 earnings per share 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 CEVA. ArrowMark Colorado Holdings LLC lifted its position in shares of CEVA by 199.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company’s stock worth $8,035,000 after purchasing an additional 169,677 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in CEVA by 97.3% during 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 acquiring an additional 104,453 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of CEVA by 206.2% in the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after acquiring an additional 92,295 shares during the period. Norges Bank purchased a new position in shares of CEVA in the 4th quarter valued at $2,817,000. Finally, Algert Global LLC raised its position in shares of CEVA by 383.5% in the 4th quarter. Algert Global LLC now owns 91,113 shares of the semiconductor company’s stock worth $2,875,000 after acquiring an additional 72,270 shares in the last quarter. 85.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Roth Mkm lifted their price target 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. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price target on shares of CEVA in a report on Tuesday, February 11th. Barclays boosted their price objective on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday. Finally, Northland Securities increased 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

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.