Short Interest in CEVA, Inc. (NASDAQ:CEVA) Declines By 8.9%

CEVA, Inc. (NASDAQ:CEVA - Get Free Report) 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 daily trading volume, of 198,000 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Trading of CEVA

Several hedge funds have recently bought and sold shares of CEVA. American Century Companies Inc. boosted its position 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 period. Dimensional Fund Advisors LP lifted its holdings in CEVA by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 835,131 shares of the semiconductor company's stock worth $16,110,000 after purchasing an additional 44,502 shares during the period. Public Sector Pension Investment Board grew its position in CEVA by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 51,888 shares of the semiconductor company's stock valued at $1,001,000 after buying an additional 2,994 shares in the last quarter. Magnetar Financial LLC acquired a new position in CEVA during the 2nd quarter valued at about $311,000. Finally, Point72 DIFC Ltd bought a new stake in shares of CEVA during the 2nd quarter worth about $43,000. 85.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

CEVA Stock Up 2.6 %

CEVA stock traded up $0.85 during mid-day trading on Friday, reaching $34.18. The company had a trading volume of 374,621 shares, compared to its average volume of 231,416. CEVA has a one year low of $16.02 and a one year high of $34.46. The stock has a market capitalization of $807.67 million, a P/E ratio of -244.13 and a beta of 1.24. The stock's 50-day simple moving average is $31.00 and its two-hundred day simple moving average is $25.60.

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.