Ceva (NASDAQ:CEVA) Issues Earnings Results

Ceva (NASDAQ:CEVA) posted its earnings results on Monday. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06), FiscalAI reports. Ceva had a negative net margin of 9.48% and a negative return on equity of 3.15%. The company had revenue of $29.06 million for the quarter, compared to analysts’ expectations of $32.71 million.

Ceva Price Performance

Ceva stock opened at $27.10 on Monday. The stock has a market cap of $762.97 million, a price-to-earnings ratio of -67.75 and a beta of 1.98. The business has a 50-day simple moving average of $30.48 and a 200 day simple moving average of $30.60. Ceva has a 52 week low of $17.02 and a 52 week high of $51.60.

Analyst Upgrades and Downgrades

CEVA has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Ceva from a “buy” rating to a “hold” rating in a report on Sunday. Oppenheimer reduced their price objective on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ceva in a report on Friday, October 2nd. TD Cowen decreased their target price on shares of Ceva from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Finally, Benchmark upgraded shares of Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ceva presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

About Ceva

Ceva, Inc is a semiconductor intellectual property (IP) company that develops and licenses technology used in connected devices. Rather than manufacturing chips, the company provides processor cores, software, and system-level IP that semiconductor companies and original equipment manufacturers can incorporate into their own products.

Its portfolio includes digital signal processor (DSP) cores and platforms for wireless communications, artificial intelligence, computer vision, audio and voice processing, imaging, and sensor applications.