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

CEVA, Inc. (NASDAQ:CEVA) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,340,000 shares, a growth of 16.5% from the February 13th total of 1,150,000 shares. Approximately 5.8% of the company’s shares are short sold. Based on an average daily volume of 305,000 shares, the days-to-cover ratio is currently 4.4 days.

Insider Activity

In related news, Director Louis Silver sold 4,520 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.98, for a total value of $140,029.60. Following the sale, the director now directly owns 47,038 shares in the company, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CEVA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CEVA. US Bancorp DE boosted its position in CEVA by 125.8% during the third quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 779 shares during the period. GSA Capital Partners LLP bought a new position in CEVA during the third quarter worth $263,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in CEVA by 97.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock worth $5,114,000 after purchasing an additional 104,453 shares during the period. Charles Schwab Investment Management Inc. boosted its position in CEVA by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock worth $5,385,000 after purchasing an additional 16,463 shares during the period. Finally, Algert Global LLC boosted its position in CEVA by 35.2% during the third quarter. Algert Global LLC now owns 18,843 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 4,910 shares during the period. 85.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CEVA shares. Northland Securities lifted their price objective on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Barclays lifted their price objective on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $35.00 price objective on shares of CEVA in a report on Tuesday, February 11th. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

CEVA Trading Down 2.8 %

NASDAQ:CEVA opened at $29.19 on Friday. CEVA has a 1-year low of $16.02 and a 1-year high of $38.94. The firm has a fifty day simple moving average of $32.85 and a 200 day simple moving average of $29.22. The stock has a market capitalization of $694.93 million, a PE ratio of -78.89 and a beta of 1.32.

CEVA (NASDAQ:CEVA) last released its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. On average, equities analysts predict that CEVA will post -0.12 earnings per share 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.