Short Interest in CEVA, Inc. (NASDAQ:CEVA) Grows By 16.5%

CEVA, Inc. (NASDAQ:CEVA) saw a significant 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. Approximately 5.8% of the shares of the company are sold short. Based on an average trading volume of 305,000 shares, the days-to-cover ratio is currently 4.4 days.

Insider Activity

In related news, Director Louis Silver sold 4,520 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new stake in shares of CEVA during the fourth quarter worth about $40,000. US Bancorp DE grew its holdings 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 during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of CEVA during the fourth quarter worth about $46,000. GAMMA Investing LLC grew its holdings in shares of CEVA by 63.3% during the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 922 shares during the last quarter. Finally, Point72 DIFC Ltd grew its holdings in shares of CEVA by 16.8% during the third quarter. Point72 DIFC Ltd now owns 2,632 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 378 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.

CEVA Trading Down 2.8 %

Shares of NASDAQ CEVA opened at $29.19 on Friday. The company has a market cap of $694.93 million, a price-to-earnings ratio of -78.89 and a beta of 1.32. CEVA has a 12 month low of $16.02 and a 12 month high of $38.94. The stock has a 50-day moving average price of $32.85 and a two-hundred day moving average price of $29.22.

CEVA (NASDAQ:CEVA) last issued its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. On average, sell-side analysts predict that CEVA will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. Barclays boosted their price target on CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Northland Securities boosted 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CEVA has an average rating of “Moderate Buy” and an average 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.