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

CEVA (NASDAQ:CEVA) posted 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 net margin of 3.22% and a negative return on equity of 2.69%.

CEVA Trading Up 1.6 %

CEVA stock traded up $0.51 during trading on Thursday, reaching $32.23. 161,909 shares of the stock were exchanged, compared to its average volume of 313,285. The business has a 50 day moving average price of $32.42 and a 200-day moving average price of $27.23. CEVA has a 1 year low of $16.02 and a 1 year high of $37.75. The firm has a market capitalization of $761.59 million, a price-to-earnings ratio of -229.32 and a beta of 1.25.

Analysts Set New Price Targets

Several analysts have commented on CEVA shares. Northland Securities raised their price objective on CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Roth Mkm upped their price objective on shares of CEVA from $25.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com cut shares of CEVA from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities restated a “buy” rating and set a $35.00 price target on shares of CEVA in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.