Short Interest in CEVA, Inc. (NASDAQ:CEVA) Decreases By 8.9%

CEVA, Inc. (NASDAQ:CEVA) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 617,300 shares, a drop of 8.9% from the December 15th total of 677,700 shares. Based on an average daily trading volume, of 198,000 shares, the short-interest ratio is currently 3.1 days.

CEVA Price Performance

NASDAQ:CEVA traded up $0.85 on Friday, reaching $34.18. The company’s stock had a trading volume of 374,621 shares, compared to its average volume of 231,416. CEVA has a 12-month low of $16.02 and a 12-month high of $34.46. The stock has a 50 day moving average price of $31.00 and a 200 day moving average price of $25.60.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CEVA. Roth Mkm upped their price objective on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Northland Securities upped their target price on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, Rosenblatt Securities lifted their price target on CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One 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 an average rating of “Moderate Buy” and an average price target of $34.20.

Institutional Trading of CEVA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of CEVA by 63.3% in the fourth quarter. GAMMA Investing LLC now owns 2,379 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 922 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in CEVA by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after acquiring an additional 41,573 shares during the period. Franklin Resources Inc. grew its position in CEVA by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 33,432 shares of the semiconductor company’s stock valued at $842,000 after acquiring an additional 12,515 shares in the last quarter. Tidal Investments LLC increased its stake in CEVA by 4.6% during the third quarter. Tidal Investments LLC now owns 18,260 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 808 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of CEVA during the third quarter worth about $233,000. Hedge funds and other institutional investors own 85.37% of the company’s stock.

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.