CEVA, Inc. (NASDAQ:CEVA) Short Interest Up 16.5% in February

CEVA, Inc. (NASDAQ:CEVA) saw a large growth in short interest during 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 short-interest ratio is currently 4.4 days.

Insiders Place Their Bets

In related news, Director Louis Silver sold 4,520 shares of CEVA stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $30.98, for a total value of $140,029.60. Following the completion of the transaction, the director now directly owns 47,038 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Trading of CEVA

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in CEVA by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,165,300 shares of the semiconductor company’s stock worth $68,315,000 after purchasing an additional 24,313 shares in the last quarter. AWM Investment Company Inc. increased its holdings in CEVA by 18.0% in the 4th quarter. AWM Investment Company Inc. now owns 600,162 shares of the semiconductor company’s stock worth $18,935,000 after purchasing an additional 91,668 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CEVA by 0.7% in the third quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company’s stock valued at $13,505,000 after buying an additional 3,649 shares during the period. Northern Trust Corp increased its stake in shares of CEVA by 14.3% in the fourth quarter. Northern Trust Corp now owns 270,372 shares of the semiconductor company’s stock valued at $8,530,000 after buying an additional 33,737 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of CEVA by 199.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 254,677 shares of the semiconductor company’s stock valued at $8,035,000 after buying an additional 169,677 shares during the period. 85.37% of the stock is currently owned by institutional investors.

CEVA Stock Up 0.2 %

Shares of NASDAQ:CEVA traded up $0.07 during trading on Wednesday, reaching $29.85. 66,273 shares of the company traded hands, compared to its average volume of 296,402. The company’s 50 day moving average is $32.97 and its two-hundred day moving average is $29.21. The firm has a market capitalization of $710.52 million, a PE ratio of -80.66 and a beta of 1.32. CEVA has a 52 week low of $16.02 and a 52 week high of $38.94.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.16). CEVA had a negative return on equity of 2.48% and a negative net margin of 8.22%. As a group, research analysts anticipate that CEVA will post -0.12 EPS for the current year.

Analysts Set New Price Targets

CEVA has been the topic of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. Northland Securities increased 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, Barclays increased their price objective on shares of CEVA from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

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.