CEVA, Inc. (NASDAQ:CEVA) Short Interest Up 21.8% in June

CEVA, Inc. (NASDAQ:CEVA) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 420,600 shares, a growth of 21.8% from the May 15th total of 345,400 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 138,000 shares, the short-interest ratio is presently 3.0 days.

CEVA stock opened at $24.35 on Friday. CEVA has a fifty-two week low of $20.40 and a fifty-two week high of $32.95. The firm has a 50 day moving average of $23.36. The firm has a market cap of $530.90 million, a P/E ratio of 268.44 and a beta of 1.67.

CEVA (NASDAQ:CEVA) last posted its earnings results on Monday, May 6th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). CEVA had a net margin of 0.59% and a return on equity of 0.88%. The company had revenue of $17.00 million during the quarter, compared to analyst estimates of $17.65 million. During the same quarter last year, the business posted $0.04 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts predict that CEVA will post -0.11 EPS for the current year.

A number of analysts have recently issued reports on CEVA shares. ValuEngine upgraded shares of CEVA from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. BidaskClub upgraded shares of CEVA from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Northland Securities restated a “hold” rating and set a $27.00 price target on shares of CEVA in a report on Thursday, April 18th. Exane BNP Paribas downgraded shares of CEVA from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 17th. Finally, BNP Paribas restated a “neutral” rating on shares of CEVA in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $31.67.

A number of institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its position in CEVA by 70.4% in the 1st quarter. Penserra Capital Management LLC now owns 3,000 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,239 shares during the period. Roubaix Capital LLC purchased a new position in CEVA in the 1st quarter valued at approximately $2,887,000. Dimensional Fund Advisors LP boosted its position in CEVA by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 724,329 shares of the semiconductor company’s stock valued at $16,001,000 after buying an additional 13,401 shares during the period. Two Sigma Advisers LP boosted its position in CEVA by 6.3% in the 4th quarter. Two Sigma Advisers LP now owns 104,987 shares of the semiconductor company’s stock valued at $2,319,000 after buying an additional 6,189 shares during the period. Finally, United Services Automobile Association boosted its position in CEVA by 16.9% in the 4th quarter. United Services Automobile Association now owns 27,667 shares of the semiconductor company’s stock valued at $611,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 85.12% of the company’s stock.

About CEVA

CEVA, Inc licenses signal processing platforms and artificial intelligence processors for semiconductor companies and original equipment manufacturers (OEMs) serving the mobile, consumer, automotive, industrial, and Internet-of-Things (IoT) markets worldwide. The company licenses a family of signal processing intellectual properties (IPs), including platforms for 5G baseband processing in handsets and base station RAN; integrated cellular IoT solutions; digital signal processor (DSP) platforms incorporating voice input algorithms and software for voice enabled devices; and DSP platforms for advanced imaging and computer vision in various camera-enabled devices, as well as a family of self-contained artificial intelligent (AI) processors that address a range of edge applications.

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