Short Interest in CEVA, Inc. (NASDAQ:CEVA) Decreases By 7.1%

CEVA, Inc. (NASDAQ:CEVA) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 984,300 shares, a decline of 7.1% from the August 31st total of 1,060,000 shares. Based on an average daily volume of 182,700 shares, the short-interest ratio is presently 5.4 days.

Institutional Trading of CEVA

Hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in shares of CEVA during the 2nd quarter worth $43,000. Cubist Systematic Strategies LLC purchased a new stake in CEVA during the second quarter worth about $330,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in CEVA during the second quarter worth about $65,000. Algert Global LLC increased its holdings in CEVA by 46.0% in the second quarter. Algert Global LLC now owns 13,933 shares of the semiconductor company’s stock valued at $269,000 after buying an additional 4,390 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of CEVA during the 2nd quarter worth approximately $227,000. 85.37% of the stock is owned by institutional investors and hedge funds.

CEVA Trading Down 2.6 %

Shares of CEVA stock traded down $0.62 during trading hours on Tuesday, hitting $23.53. 38,901 shares of the company were exchanged, compared to its average volume of 154,715. The business has a 50-day moving average of $22.34 and a 200-day moving average of $21.11. CEVA has a 1 year low of $16.02 and a 1 year high of $25.54. The stock has a market capitalization of $557.43 million, a price-to-earnings ratio of -45.57 and a beta of 1.19.

CEVA (NASDAQ:CEVA) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. CEVA had a negative net margin of 7.02% and a negative return on equity of 3.77%. The business had revenue of $28.44 million for the quarter, compared to analyst estimates of $24.47 million. As a group, research analysts anticipate that CEVA will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CEVA shares. Oppenheimer raised their price target on CEVA from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Roth Mkm upgraded shares of CEVA from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $25.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CEVA has an average rating of “Moderate Buy” and an average target price of $28.50.

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.