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

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 617,300 shares, a decrease of 8.9% from the December 15th total of 677,700 shares. Based on an average daily trading volume, of 198,000 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CEVA shares. StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Rosenblatt Securities boosted their price objective on shares of CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northland Securities increased their target price on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Finally, Roth Mkm boosted their price target on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Institutional Investors Weigh In On CEVA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in CEVA by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 5,119 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CEVA by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company’s stock valued at $16,110,000 after purchasing an additional 44,502 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of CEVA by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 51,888 shares of the semiconductor company’s stock valued at $1,001,000 after purchasing an additional 2,994 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of CEVA during the second quarter worth about $311,000. Finally, Point72 DIFC Ltd bought a new position in shares of CEVA during the second quarter worth about $43,000. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Stock Performance

NASDAQ CEVA opened at $34.18 on Friday. CEVA has a 52-week low of $16.02 and a 52-week high of $34.46. The business has a 50 day simple moving average of $31.00 and a 200 day simple moving average of $25.55. The stock has a market cap of $807.57 million, a price-to-earnings ratio of -244.13 and a beta of 1.24.

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.