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

CEVA (NASDAQ:CEVA) released 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 Stock Up 10.2 %

NASDAQ:CEVA opened at $34.96 on Friday. CEVA has a 52 week low of $16.02 and a 52 week high of $37.75. The stock has a market capitalization of $826.10 million, a PE ratio of -249.70 and a beta of 1.25. The stock’s 50-day moving average price is $32.42 and its 200-day moving average price is $27.23.

Analyst Upgrades and Downgrades

CEVA has been the topic of several recent research reports. Northland Securities upped their price target on shares of CEVA from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Barclays upped their price target on shares of CEVA from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price target on shares of CEVA in a report on Tuesday. StockNews.com lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Roth Mkm upped their price target on shares of CEVA from $25.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, CEVA presently has a consensus rating of “Moderate Buy” and an average price target of $35.17.

CEVA Company Profile

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.