Ceva, Inc. (NASDAQ:CEVA) Sees Significant Growth in Short Interest

Ceva, Inc. (NASDAQ:CEVA) saw a significant growth in short interest in December. As of December 15th, there was short interest totaling 2,220,800 shares, a growth of 39.0% from the November 30th total of 1,598,121 shares. Based on an average trading volume of 551,486 shares, the days-to-cover ratio is presently 4.0 days. Approximately 9.5% of the company’s shares are short sold. Approximately 9.5% of the company’s shares are short sold. Based on an average trading volume of 551,486 shares, the days-to-cover ratio is presently 4.0 days.

Ceva Stock Down 0.7%

NASDAQ CEVA opened at $21.51 on Tuesday. The firm’s 50 day moving average is $23.46 and its 200-day moving average is $23.67. The company has a market capitalization of $516.67 million, a PE ratio of -46.76 and a beta of 1.46. Ceva has a 12-month low of $18.23 and a 12-month high of $38.94.

Ceva (NASDAQ:CEVA) last released its earnings results on Monday, November 10th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Ceva had a negative net margin of 10.49% and a negative return on equity of 3.54%. The business had revenue of $28.38 million during the quarter, compared to the consensus estimate of $28.04 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Ceva will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays boosted their price objective on Ceva from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ceva in a report on Tuesday, October 14th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Ceva in a research report on Tuesday, November 11th. Finally, Loop Capital assumed coverage on shares of Ceva in a research report on Monday, December 1st. They issued a “buy” rating and a $28.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Herald Investment Management Ltd raised its holdings in shares of Ceva by 23.1% in the 2nd quarter. Herald Investment Management Ltd now owns 400,000 shares of the semiconductor company’s stock valued at $8,780,000 after purchasing an additional 75,000 shares during the period. Silverberg Bernstein Capital Management LLC increased its position in Ceva by 35.6% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 121,023 shares of the semiconductor company’s stock worth $2,660,000 after buying an additional 31,769 shares during the last quarter. Acadian Asset Management LLC increased its position in Ceva by 24.0% during the second quarter. Acadian Asset Management LLC now owns 653,013 shares of the semiconductor company’s stock worth $14,346,000 after buying an additional 126,267 shares during the last quarter. Voya Investment Management LLC raised its stake in Ceva by 52.2% in the first quarter. Voya Investment Management LLC now owns 59,712 shares of the semiconductor company’s stock valued at $1,529,000 after buying an additional 20,469 shares during the period. Finally, AWM Investment Company Inc. lifted its position in shares of Ceva by 8.5% in the second quarter. AWM Investment Company Inc. now owns 667,162 shares of the semiconductor company’s stock valued at $14,664,000 after buying an additional 52,000 shares during the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

About Ceva

Ceva, Inc (NASDAQ: CEVA) is a leading licensor of signal processing IP cores and platforms that enable intelligent, connected devices. The company designs a broad portfolio of digital signal processing (DSP) and AI processors, software development toolkits and reference frameworks for applications ranging from 5G wireless communications and Bluetooth connectivity to audio, computer vision, sensor fusion and edge AI. Its solutions target a variety of end markets including smartphones, automotive, IoT devices, smart home, industrial automation and wearable electronics.

Founded in 1999 as a spin-off from DSP Group, Ceva has built its reputation on delivering modular, power-efficient IP that can be customized to meet stringent performance, area and power requirements.