CEVA, Inc. (NASDAQ:CEVA) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 388,600 shares, a decrease of 17.6% from the July 31st total of 471,800 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 108,900 shares, the days-to-cover ratio is presently 3.6 days.
In related news, Director Maria Marced sold 2,064 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $32.07, for a total transaction of $66,192.48. Following the completion of the sale, the director now owns 7,121 shares in the company, valued at approximately $228,370.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of CEVA in the 1st quarter valued at $38,000. US Bancorp DE increased its stake in shares of CEVA by 976.6% in the 2nd quarter. US Bancorp DE now owns 1,658 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 1,504 shares during the period. Bank of Montreal Can increased its stake in shares of CEVA by 324.6% in the 2nd quarter. Bank of Montreal Can now owns 2,412 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 1,844 shares during the period. Penserra Capital Management LLC increased its stake in shares of 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. Finally, Tyers Asset Management LLC increased its stake in shares of CEVA by 10.4% in the 2nd quarter. Tyers Asset Management LLC now owns 3,552 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 336 shares during the period. 83.57% of the stock is owned by institutional investors.
CEVA has been the subject of a number of research reports. Barclays set a $27.00 price objective on CEVA and gave the stock a “hold” rating in a research report on Friday, August 9th. BidaskClub downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. ValuEngine upgraded CEVA from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Canaccord Genuity raised their target price on CEVA from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research downgraded CEVA from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. CEVA presently has an average rating of “Hold” and an average price target of $32.20.
Shares of CEVA stock traded up $0.10 during midday trading on Friday, hitting $32.81. 4,178 shares of the company were exchanged, compared to its average volume of 108,883. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.46 and a quick ratio of 8.46. The firm has a market cap of $684.43 million, a P/E ratio of 298.36 and a beta of 1.59. CEVA has a 52 week low of $20.40 and a 52 week high of $32.95. The firm has a 50 day simple moving average of $30.15 and a 200-day simple moving average of $26.57.
CEVA (NASDAQ:CEVA) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.14. The firm had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $17.41 million. CEVA had a return on equity of 1.12% and a net margin of 1.33%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. Equities research analysts expect that CEVA will post -0.08 earnings per share for the current year.
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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