CEVA, Inc. (NASDAQ:CEVA) Sees Significant Increase in Short Interest

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 826,500 shares, a growth of 17.4% from the September 30th total of 704,200 shares. Based on an average trading volume of 179,500 shares, the short-interest ratio is currently 4.6 days.

Analyst Ratings Changes

Several research analysts recently weighed in on CEVA shares. Oppenheimer increased their price objective on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Roth Mkm raised shares of CEVA from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $25.00 in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, CEVA currently has an average rating of “Moderate Buy” and an average target price of $28.50.

Hedge Funds Weigh In On CEVA

Several institutional investors have recently modified their holdings of the business. US Bancorp DE increased its holdings in CEVA by 125.8% during the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 779 shares during the period. GAMMA Investing LLC raised its holdings in CEVA by 338.9% in 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 in the last quarter. Point72 DIFC Ltd purchased a new position in CEVA in the second quarter worth approximately $43,000. nVerses Capital LLC acquired a new position in CEVA during the 2nd quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of CEVA in the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

CEVA Stock Performance

Shares of CEVA traded up $0.67 during midday trading on Tuesday, hitting $25.04. 60,133 shares of the stock were exchanged, compared to its average volume of 150,467. The stock has a fifty day simple moving average of $24.02 and a 200 day simple moving average of $21.36. CEVA has a 52-week low of $16.02 and a 52-week high of $25.74. The firm has a market cap of $593.10 million, a P/E ratio of -85.62 and a beta of 1.19.

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

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.