CEVA (NASDAQ:CEVA) Posts Quarterly Earnings Results, Misses Expectations By $0.16 EPS

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

CEVA Price Performance

NASDAQ:CEVA traded up $0.92 during trading hours on Thursday, hitting $32.64. 174,475 shares of the company were exchanged, compared to its average volume of 313,683. CEVA has a 52-week low of $16.02 and a 52-week high of $37.75. The stock has a market capitalization of $771.26 million, a price-to-earnings ratio of -233.59 and a beta of 1.25. The company’s 50 day moving average price is $32.42 and its 200-day moving average price is $27.23.

Wall Street Analysts Forecast Growth

CEVA has been the subject of a number of recent analyst reports. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Roth Mkm increased their price objective on CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northland Securities raised their price objective on CEVA from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $35.00 price target on shares of CEVA in a report on Tuesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.