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

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a significant decrease in short interest in 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 trading volume of 198,000 shares, the days-to-cover ratio is presently 3.1 days.

CEVA Stock Performance

NASDAQ:CEVA opened at $34.18 on Monday. The firm’s fifty day moving average is $31.00 and its two-hundred day moving average is $25.65. The firm has a market cap of $807.67 million, a price-to-earnings ratio of -244.13 and a beta of 1.24. CEVA has a one year low of $16.02 and a one year high of $34.46.

Institutional Trading of CEVA

Several hedge funds and other institutional investors have recently bought and sold shares of CEVA. US Bancorp DE boosted its stake in shares of 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 acquiring an additional 779 shares in the last quarter. GAMMA Investing LLC raised its holdings in CEVA by 338.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,125 shares during the period. Point72 DIFC Ltd purchased a new position in CEVA during the second quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in CEVA in the second quarter valued at approximately $65,000. Finally, FMR LLC increased its position in shares of CEVA by 56.4% in the third quarter. FMR LLC now owns 3,409 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 1,230 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.