Short Interest in CEVA, Inc. (NASDAQ:CEVA) Grows By 16.5%

CEVA, Inc. (NASDAQ:CEVA - Get Free Report) was the recipient of a significant growth in short interest in 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 shares of the company are short sold. Based on an average daily volume of 305,000 shares, the days-to-cover ratio is presently 4.4 days.

Analysts Set New Price Targets

A number of analysts have recently commented on CEVA shares. Barclays upped their target price on CEVA from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Northland Securities raised their price objective on shares of CEVA from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $35.00 target price on shares of CEVA in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CEVA presently has an average rating of "Moderate Buy" and a consensus target price of $36.60.

Insider Buying and Selling

In related news, Director Louis Silver sold 4,520 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the transaction, the director now directly owns 47,038 shares in the company, valued at $1,457,237.24. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company's stock.

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Hedge Funds Weigh In On CEVA

Hedge funds have recently made changes to their positions in the company. US Bancorp DE raised its stake in CEVA by 125.8% in the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 779 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of CEVA during the third quarter worth $263,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CEVA by 97.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company's stock valued at $5,114,000 after buying an additional 104,453 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CEVA by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company's stock worth $5,385,000 after buying an additional 16,463 shares in the last quarter. 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 acquiring an additional 4,910 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company's stock.

CEVA Stock Performance

CEVA stock traded down $0.84 during trading on Friday, reaching $28.35. The company had a trading volume of 723,344 shares, compared to its average volume of 164,412. The firm's 50-day simple moving average is $32.78 and its 200 day simple moving average is $29.29. The firm has a market capitalization of $674.93 million, a PE ratio of -76.62 and a beta of 1.32. CEVA has a 1-year low of $16.02 and a 1-year high of $38.94.

CEVA (NASDAQ:CEVA - Get Free Report) last released its earnings results on Thursday, February 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. Analysts anticipate that CEVA will post -0.12 EPS for the current year.

CEVA Company Profile

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.