CEVA, Inc. (NASDAQ:CEVA) Sees Significant Decrease in Short Interest

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in CEVA by 206.2% during the third quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company’s stock valued at $3,310,000 after buying an additional 92,295 shares in the last quarter. Barclays PLC lifted its position in CEVA by 389.8% during the third quarter. Barclays PLC now owns 41,900 shares of the semiconductor company’s stock valued at $1,011,000 after buying an additional 33,346 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CEVA by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company’s stock valued at $2,801,000 after buying an additional 41,573 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in CEVA by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company’s stock valued at $5,385,000 after buying an additional 16,463 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in CEVA by 97.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,771 shares of the semiconductor company’s stock valued at $5,114,000 after buying an additional 104,453 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.

CEVA Price Performance

CEVA opened at $32.21 on Monday. The company’s 50 day simple moving average is $31.98 and its 200 day simple moving average is $26.57. CEVA has a 1 year low of $16.02 and a 1 year high of $34.71.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CEVA shares. Roth Mkm lifted their price target on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Northland Securities lifted their price target on shares of CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Rosenblatt Securities lifted their price target on shares of CEVA from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, CEVA currently has an average rating of “Moderate Buy” and an average price target of $34.20.

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.