Short Interest in CEVA, Inc. (NASDAQ:CEVA) Increases By 13.2%

CEVA, Inc. (NASDAQ:CEVA) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 855,400 shares, a growth of 13.2% from the June 30th total of 755,700 shares. Based on an average daily trading volume, of 140,000 shares, the days-to-cover ratio is currently 6.1 days. Approximately 3.8% of the shares of the company are sold short.

CEVA Price Performance

CEVA stock traded down $0.57 during trading hours on Tuesday, reaching $19.53. The company had a trading volume of 99,672 shares, compared to its average volume of 138,018. CEVA has a 12-month low of $16.38 and a 12-month high of $27.48. The firm has a market cap of $460.52 million, a price-to-earnings ratio of -36.85 and a beta of 1.15. The company has a 50-day moving average price of $19.74 and a 200 day moving average price of $20.84.

CEVA (NASDAQ:CEVA) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The business had revenue of $22.07 million for the quarter, compared to the consensus estimate of $23.06 million. CEVA had a negative net margin of 12.91% and a negative return on equity of 5.70%. As a group, research analysts expect that CEVA will post -0.32 earnings per share for the current year.

Analyst Ratings Changes

Separately, Roth Mkm cut their target price on CEVA from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 3,934 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $20.72, for a total value of $81,512.48. Following the completion of the transaction, the director now owns 40,576 shares of the company’s stock, valued at $840,734.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CEVA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of CEVA by 1,693.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 321,602 shares of the semiconductor company’s stock worth $7,284,000 after acquiring an additional 303,673 shares during the last quarter. Acadian Asset Management LLC lifted its position in CEVA by 67.9% during the 1st quarter. Acadian Asset Management LLC now owns 523,614 shares of the semiconductor company’s stock worth $11,887,000 after acquiring an additional 211,697 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in CEVA by 13,776.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 180,947 shares of the semiconductor company’s stock worth $4,110,000 after acquiring an additional 179,643 shares during the period. Trexquant Investment LP acquired a new position in shares of CEVA in the 4th quarter valued at about $1,731,000. Finally, Vanguard Group Inc. lifted its holdings in shares of CEVA by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 2,969,107 shares of the semiconductor company’s stock valued at $67,428,000 after buying an additional 62,734 shares during the period. 85.37% of the stock is owned by institutional investors.

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.