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

CEVA, Inc. (NASDAQ:CEVA) saw a large 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 volume of 198,000 shares, the short-interest ratio is presently 3.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in CEVA by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock worth $621,000 after acquiring an additional 5,119 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CEVA by 5.6% during the second 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 last quarter. Public Sector Pension Investment Board increased 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 bought a new position in CEVA in the 2nd quarter worth approximately $311,000. Finally, Point72 DIFC Ltd acquired a new position in CEVA during the 2nd quarter worth $43,000. 85.37% of the stock is owned by institutional investors.

CEVA Stock Performance

Shares of CEVA opened at $34.18 on Friday. The company has a market cap of $807.57 million, a price-to-earnings ratio of -244.13 and a beta of 1.24. The stock has a fifty day moving average price of $31.00 and a two-hundred day moving average price of $25.55. CEVA has a 52-week low of $16.02 and a 52-week high of $34.46.

Analyst Ratings Changes

CEVA has been the subject of a number of recent research reports. StockNews.com cut CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Roth Mkm increased their price objective on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their price objective on CEVA from $28.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Northland Securities upped 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.