Short Interest in CEVA, Inc. (NASDAQ:CEVA) Decreases By 20.6%

CEVA, Inc. (NASDAQ:CEVA) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 268,000 shares, a drop of 20.6% from the January 15th total of 337,500 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 112,400 shares, the days-to-cover ratio is currently 2.4 days.

CEVA traded down $0.45 on Friday, hitting $29.86. 107,136 shares of the company’s stock traded hands, compared to its average volume of 94,561. The company’s 50 day simple moving average is $28.37 and its 200-day simple moving average is $28.64. The firm has a market cap of $666.61 million, a price-to-earnings ratio of -746.50 and a beta of 1.49. CEVA has a one year low of $21.69 and a one year high of $33.16. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.03.

CEVA has been the topic of several recent analyst reports. BidaskClub raised CEVA from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. ValuEngine downgraded CEVA from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Zacks Investment Research raised CEVA from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CEVA presently has an average rating of “Hold” and an average target price of $31.40.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in CEVA by 741.8% in the 3rd quarter. Millennium Management LLC now owns 136,460 shares of the semiconductor company’s stock worth $4,074,000 after acquiring an additional 120,250 shares during the last quarter. Roubaix Capital LLC bought a new stake in CEVA in the 4th quarter worth approximately $2,630,000. Nuveen Asset Management LLC bought a new stake in CEVA in the 2nd quarter worth approximately $2,157,000. Goldman Sachs Group Inc. increased its stake in CEVA by 111.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 92,521 shares of the semiconductor company’s stock worth $2,494,000 after acquiring an additional 48,755 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in CEVA by 70.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 111,630 shares of the semiconductor company’s stock worth $3,008,000 after acquiring an additional 46,001 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors.

CEVA Company Profile

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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