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

CEVA, Inc. (NASDAQ:CEVA - Get Free Report) was the target of a large drop in short interest in January. As of January 15th, there was short interest totalling 617,300 shares, a drop of 8.9% from the December 31st 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.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On CEVA

Large investors have recently made changes to their positions in the company. US Bancorp DE lifted its position in shares of CEVA by 125.8% in the 3rd 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. GAMMA Investing LLC boosted its holdings in CEVA by 338.9% during the third quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company's stock worth $35,000 after buying an additional 1,125 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in CEVA during the second quarter worth $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in CEVA during the second quarter valued at $65,000. Finally, FMR LLC raised 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 during the last quarter. 85.37% of the stock is owned by hedge funds and other institutional investors.

CEVA Stock Up 6.5 %

NASDAQ CEVA traded up $2.09 on Wednesday, reaching $34.17. The company had a trading volume of 148,519 shares, compared to its average volume of 298,781. The firm's 50 day moving average price is $32.06 and its 200 day moving average price is $26.74. CEVA has a 12 month low of $16.02 and a 12 month high of $34.71. The stock has a market capitalization of $807.44 million, a PE ratio of -243.38 and a beta of 1.25.

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.