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

Ceva (NASDAQ:CEVA) announced its quarterly earnings data on Monday. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $29.06 million for the quarter, compared to the consensus estimate of $32.71 million.

Ceva Price Performance

Shares of CEVA stock opened at $27.10 on Monday. The company’s fifty day simple moving average is $30.48 and its two-hundred day simple moving average is $30.60. Ceva has a 1 year low of $17.02 and a 1 year high of $51.60. The stock has a market capitalization of $762.97 million, a price-to-earnings ratio of -67.75 and a beta of 1.98.

Analyst Ratings Changes

Several analysts have issued reports on CEVA shares. Oppenheimer lowered their target price on Ceva from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Benchmark upgraded Ceva from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Wall Street Zen lowered Ceva from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Ceva in a research note on Friday, October 2nd. Finally, Rosenblatt Securities boosted their price objective on Ceva from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ceva has an average rating of “Moderate Buy” and a consensus target price of $38.80.

Ceva Company Profile

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.