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EZchip (NASDAQ:EZCH) saw a significant decrease in short interest during the month of May. As of May 30th, there was short interest totalling 2,365,327 shares, a decrease of 24.0% from the May 15th total of 3,111,703 shares, StockRatingsNetwork reports. Approximately 8.6% of the shares of the company are sold short. Based on an average daily volume of 199,768 shares, the days-to-cover ratio is currently 11.8 days.

EZCH has been the subject of a number of recent research reports. Analysts at Feltl & Co. upgraded shares of EZchip from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Separately, analysts at Zacks downgraded shares of EZchip from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 22nd. They now have a $24.70 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.74.

EZchip (NASDAQ:EZCH) opened at 25.89 on Friday. EZchip has a 52 week low of $21.30 and a 52 week high of $32.79. The stock’s 50-day moving average is $24.75 and its 200-day moving average is $24.94. The company has a market cap of $750.2 million and a P/E ratio of 31.34.

EZchip (NASDAQ:EZCH) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $20.30 million for the quarter, compared to the consensus estimate of $20.00 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, analysts predict that EZchip will post $1.41 earnings per share for the current fiscal year.

EZchip Semiconductor Ltd. is the holding company of EZchip Technologies Ltd. (NASDAQ:EZCH).

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