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Ceva Inc Down 14.91% To $32.08 After Earnings Beat

Tuesday, August 09, 2022 12:59 PM | InvestorsObserver Analysts
Ceva Inc Down 14.91% To $32.08 After Earnings Beat

Ceva Inc (CEVA) said before open Tuesday that it earned $0.18 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $33.2 million, missing estimates by $1.3 million.

In the same quarter a year ago, the company earned $0.22 per share on revenue of $30.5 million.

The stock is down 14.91% to $32.08 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 37. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

CEVA Inc is a licensor of signal-processing intellectual property. Through partnerships with semiconductor companies and original equipment manufacturers globally, the company helps produce devices for a range of end markets. OEMs and semiconductor companies choose to sell products with CEVA equipment to wireless, consumer, automotive, and Internet of Things companies. Revenue is derived primarily from licensing fees and related revenue, and royalties generated from the shipments of products utilizing its intellectual properties. CEVA also engages in the training and sale of development systems.

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