CEVA, Inc. (NASDAQ:CEVA) Short Interest Up 7.7% in June

CEVA, Inc. (NASDAQ:CEVA) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 744,300 shares, a growth of 7.7% from the May 31st total of 691,100 shares. Based on an average daily volume of 133,600 shares, the days-to-cover ratio is presently 5.6 days.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their price objective on CEVA from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, CEVA presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Insider Activity

In other CEVA news, Director Louis Silver sold 3,934 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $20.72, for a total value of $81,512.48. Following the transaction, the director now directly owns 40,576 shares of the company’s stock, valued at $840,734.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is owned by company insiders.

Institutional Trading of CEVA

Hedge funds have recently bought and sold shares of the business. Silverberg Bernstein Capital Management LLC bought a new position in CEVA in the 4th quarter valued at $1,653,000. PNC Financial Services Group Inc. increased its holdings in CEVA by 99.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,599 shares of the semiconductor company’s stock worth $31,000 after buying an additional 798 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in CEVA during the fourth quarter worth about $358,000. Connor Clark & Lunn Investment Management Ltd. raised its position in CEVA by 38.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,771 shares of the semiconductor company’s stock worth $248,000 after acquiring an additional 3,549 shares during the period. Finally, Citigroup Inc. boosted its stake in CEVA by 10.4% in the third quarter. Citigroup Inc. now owns 43,923 shares of the semiconductor company’s stock valued at $852,000 after acquiring an additional 4,121 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors.

CEVA Price Performance

CEVA opened at $18.71 on Thursday. CEVA has a fifty-two week low of $16.38 and a fifty-two week high of $27.65. The company’s 50-day moving average is $19.82 and its 200 day moving average is $21.16.

CEVA (NASDAQ:CEVA) last posted its earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.06). CEVA had a negative return on equity of 5.70% and a negative net margin of 12.91%. The firm had revenue of $22.07 million for the quarter, compared to the consensus estimate of $23.06 million. On average, equities research analysts anticipate that CEVA will post -0.32 EPS for the current fiscal year.

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.