CEVA (NASDAQ:CEVA) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

CEVA (NASDAQ:CEVA) released its earnings results on Thursday. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.16), Zacks reports. CEVA had a negative return on equity of 2.69% and a negative net margin of 3.22%.

CEVA Stock Performance

Shares of CEVA traded up $0.92 during mid-day trading on Thursday, hitting $32.64. 174,475 shares of the company were exchanged, compared to its average volume of 313,683. The stock has a market cap of $771.26 million, a price-to-earnings ratio of -233.59 and a beta of 1.25. CEVA has a 1-year low of $16.02 and a 1-year high of $37.75. The company has a 50 day moving average of $32.42 and a 200-day moving average of $27.23.

Wall Street Analyst Weigh In

Several analysts have commented on CEVA shares. Northland Securities lifted their price objective on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Roth Mkm boosted their target price on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price target on shares of CEVA in a report on Tuesday. Finally, StockNews.com lowered CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

About CEVA

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 – 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.