CEVA, Inc. (NASDAQ:CEVA) Short Interest Up 17.4% in October

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 826,500 shares, an increase of 17.4% from the September 30th total of 704,200 shares. Based on an average daily volume of 179,500 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analyst Weigh In

Several brokerages have commented on CEVA. Roth Mkm raised CEVA from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $25.00 in a report on Thursday, August 8th. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Oppenheimer increased their price objective on shares of CEVA from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CEVA currently has a consensus rating of “Moderate Buy” and an average target price of $28.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rice Hall James & Associates LLC increased its holdings in shares of CEVA by 5.5% in the third quarter. Rice Hall James & Associates LLC now owns 452,541 shares of the semiconductor company’s stock valued at $10,929,000 after purchasing an additional 23,566 shares during the last quarter. US Bancorp DE increased its stake in shares of CEVA by 125.8% in the 3rd quarter. US Bancorp DE now owns 1,398 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 779 shares during the last quarter. Creative Planning acquired a new stake in shares of CEVA in the 3rd quarter worth $503,000. GAMMA Investing LLC raised its holdings in shares of CEVA by 338.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 1,125 shares during the period. Finally, Silverberg Bernstein Capital Management LLC boosted its position in shares of CEVA by 6.6% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 76,554 shares of the semiconductor company’s stock valued at $1,849,000 after acquiring an additional 4,730 shares during the last quarter. 85.37% of the stock is currently owned by institutional investors and hedge funds.

CEVA Price Performance

NASDAQ CEVA traded up $0.67 during mid-day trading on Tuesday, hitting $25.04. The stock had a trading volume of 60,133 shares, compared to its average volume of 150,467. The firm’s 50 day moving average is $24.02 and its 200 day moving average is $21.36. The stock has a market capitalization of $593.10 million, a price-to-earnings ratio of -85.62 and a beta of 1.19. CEVA has a twelve month low of $16.02 and a twelve month high of $25.74.

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

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.