CEVA, Inc. (NASDAQ:CEVA) Short Interest Down 12.8% in December

CEVA, Inc. (NASDAQ:CEVA) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 677,700 shares, a decrease of 12.8% from the November 30th total of 776,900 shares. Based on an average trading volume of 181,700 shares, the short-interest ratio is currently 3.7 days.

Analyst Upgrades and Downgrades

CEVA has been the topic of several recent research reports. Northland Securities boosted their target price on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Roth Mkm boosted their price objective on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities raised their target price on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Institutional Trading of CEVA

Several institutional investors and hedge funds have recently bought and sold shares of CEVA. nVerses Capital LLC purchased a new stake in shares of CEVA in the 2nd quarter valued at approximately $50,000. Acadian Asset Management LLC increased its holdings in CEVA by 8.3% in the 2nd quarter. Acadian Asset Management LLC now owns 566,880 shares of the semiconductor company’s stock valued at $10,931,000 after purchasing an additional 43,266 shares during the last quarter. Quest Partners LLC purchased a new stake in CEVA in the second quarter valued at approximately $395,000. American Century Companies Inc. lifted its stake in CEVA by 18.9% during the second quarter. American Century Companies Inc. now owns 32,168 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 5,119 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of CEVA during the second quarter worth $530,000. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

CEVA Stock Down 1.5 %

NASDAQ:CEVA traded down $0.49 on Tuesday, reaching $31.55. The company’s stock had a trading volume of 196,090 shares, compared to its average volume of 163,312. CEVA has a 12-month low of $16.02 and a 12-month high of $33.44. The stock has a 50 day moving average price of $28.97 and a 200 day moving average price of $24.40. The firm has a market cap of $745.43 million, a price-to-earnings ratio of -225.34 and a beta of 1.27.

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.