CEVA, Inc. (NASDAQ:CEVA) Sees Large Decline in Short Interest

CEVA, Inc. (NASDAQ:CEVA) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 677,700 shares, a decrease of 12.8% from the November 30th total of 776,900 shares. Based on an average daily volume of 181,700 shares, the short-interest ratio is presently 3.7 days.

CEVA Stock Down 1.5 %

CEVA stock traded down $0.49 during trading on Tuesday, reaching $31.55. The stock had a trading volume of 196,090 shares, compared to its average volume of 163,312. CEVA has a 52-week low of $16.02 and a 52-week high of $33.44. The stock has a market cap of $745.43 million, a PE ratio of -225.34 and a beta of 1.27. The business has a 50 day moving average price of $28.97 and a 200 day moving average price of $24.40.

Hedge Funds Weigh In On CEVA

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE raised its stake in CEVA by 125.8% in the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 779 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 1,125 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of CEVA during the 2nd quarter worth about $43,000. nVerses Capital LLC purchased a new stake in CEVA during the second quarter worth approximately $50,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in CEVA during the second quarter worth approximately $65,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Wall Street Analyst Weigh In

CEVA has been the subject of several recent research reports. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Roth Mkm raised their price target on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities upped their price objective on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Northland Securities increased their price objective 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, CEVA has a consensus rating of “Moderate Buy” and an average target price of $34.20.

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.