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

CEVA (NASDAQ:CEVA) released its quarterly earnings data 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 return on equity of 2.69% and a negative net margin of 3.22%.

CEVA Price Performance

Shares of CEVA stock opened at $34.67 on Friday. CEVA has a 1-year low of $16.02 and a 1-year high of $37.75. The firm has a fifty day moving average of $32.52 and a two-hundred day moving average of $27.28.

Wall Street Analysts Forecast Growth

CEVA has been the subject of several recent research reports. Roth Mkm increased 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 lowered shares of CEVA from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Northland Securities raised 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $35.00 price target on shares of CEVA in a report on Tuesday. Finally, Barclays raised 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.