Ceva (NASDAQ:CEVA) Announces Earnings Results, Misses Expectations By $0.06 EPS

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

Ceva Price Performance

CEVA opened at $27.10 on Monday. The company has a market capitalization of $762.97 million, a P/E ratio of -67.75 and a beta of 1.98. The firm’s fifty day moving average price is $30.48 and its two-hundred day moving average price is $30.60. Ceva has a fifty-two week low of $17.02 and a fifty-two week high of $51.60.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of Ceva from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. UBS Group reduced their price objective on Ceva from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ceva in a research report on Friday, October 2nd. Oppenheimer lowered their price objective on shares of Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Finally, Benchmark raised shares of Ceva from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.