CEVA, Inc. (NASDAQ:CEVA) Short Interest Down 28.5% in September

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 704,200 shares, a decline of 28.5% from the September 15th total of 984,300 shares. Based on an average trading volume of 180,500 shares, the short-interest ratio is currently 3.9 days.

CEVA Price Performance

CEVA stock traded up $0.76 during trading hours on Friday, reaching $25.26. 79,389 shares of the stock were exchanged, compared to its average volume of 153,858. The firm’s 50-day moving average is $23.24 and its 200-day moving average is $21.24. The company has a market cap of $595.68 million, a price-to-earnings ratio of -47.66 and a beta of 1.19. CEVA has a 12 month low of $16.02 and a 12 month high of $25.54.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.14. The company had revenue of $28.44 million during the quarter, compared to analysts’ expectations of $24.47 million. CEVA had a negative return on equity of 3.77% and a negative net margin of 7.02%. As a group, equities research analysts forecast that CEVA will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On CEVA

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,125 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in CEVA during the second quarter worth approximately $43,000. nVerses Capital LLC acquired a new stake in CEVA during the second quarter worth approximately $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in CEVA during the second quarter worth approximately $65,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in CEVA during the second quarter worth approximately $227,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $25.00 in a research note on Thursday, August 8th. StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Oppenheimer increased their target price on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CEVA presently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

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.