CEVA (CEVA)
Market Price (12/26/2025): $21.82 | Market Cap: $522.4 MilSector: Information Technology | Industry: Semiconductors
CEVA (CEVA)
Market Price (12/26/2025): $21.82Market Cap: $522.4 MilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28% | Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -99% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -11 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -10% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and 5G & Advanced Connectivity. Themes include AI Chips, Edge AI, Show more. | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.9% | |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.8%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.0% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.3% | ||
| Key risksCEVA key risks include [1] difficulties integrating strategic acquisitions and realizing their anticipated synergies and [2] the potential for defects in its complex intellectual property to cause significant reputational and financial damage. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, and 5G & Advanced Connectivity. Themes include AI Chips, Edge AI, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -99% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -11 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -10% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.9% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.8%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.3% |
| Key risksCEVA key risks include [1] difficulties integrating strategic acquisitions and realizing their anticipated synergies and [2] the potential for defects in its complex intellectual property to cause significant reputational and financial damage. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
CEVA (symbol: CEVA) experienced a -1.8% stock movement during the specified period. While specific reasons for this exact percentage move between August 31, 2025, and December 26, 2025, are not available due to the future nature of this timeframe, general factors that can influence CEVA's stock performance and have been noted in its recent financial reports and analyst discussions include:1. Volatility due to broader market movements. CEVA has a Beta of 2.02, indicating it is more volatile than the S&P 500, meaning its stock price can experience larger swings in response to overall market trends and sector news.
2. Royalty revenue volatility. CEVA's royalty revenue stream is susceptible to cyclical slowdowns, introducing an element of unpredictability. This revenue is tied to shipments of devices using their intellectual property (IP), directly reflecting the health of end-markets such as consumer electronics and smartphones.
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Stock Movement Drivers
Fundamental Drivers
The -17.3% change in CEVA stock from 9/25/2025 to 12/25/2025 was primarily driven by a -18.0% change in the company's P/S Multiple.| 9252025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 26.37 | 21.82 | -17.25% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 106.35 | 107.53 | 1.11% |
| P/S Multiple | 5.93 | 4.86 | -18.01% |
| Shares Outstanding (Mil) | 23.90 | 23.94 | -0.18% |
| Cumulative Contribution | -17.25% |
Market Drivers
9/25/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| CEVA | -17.3% | |
| Market (SPY) | 4.9% | 69.6% |
| Sector (XLK) | 5.3% | 68.0% |
Fundamental Drivers
The -3.2% change in CEVA stock from 6/26/2025 to 12/25/2025 was primarily driven by a -1.4% change in the company's Total Revenues ($ Mil).| 6262025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 22.53 | 21.82 | -3.15% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 109.11 | 107.53 | -1.45% |
| P/S Multiple | 4.91 | 4.86 | -0.99% |
| Shares Outstanding (Mil) | 23.76 | 23.94 | -0.75% |
| Cumulative Contribution | -3.16% |
Market Drivers
6/26/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| CEVA | -3.2% | |
| Market (SPY) | 13.1% | 68.3% |
| Sector (XLK) | 16.7% | 67.0% |
Fundamental Drivers
The -32.4% change in CEVA stock from 12/25/2024 to 12/25/2025 was primarily driven by a -35.2% change in the company's P/S Multiple.| 12252024 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 32.27 | 21.82 | -32.38% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 101.88 | 107.53 | 5.55% |
| P/S Multiple | 7.50 | 4.86 | -35.22% |
| Shares Outstanding (Mil) | 23.68 | 23.94 | -1.11% |
| Cumulative Contribution | -32.39% |
Market Drivers
12/25/2024 to 12/25/2025| Return | Correlation | |
|---|---|---|
| CEVA | -32.4% | |
| Market (SPY) | 15.8% | 65.3% |
| Sector (XLK) | 22.2% | 69.6% |
Fundamental Drivers
The -15.8% change in CEVA stock from 12/26/2022 to 12/25/2025 was primarily driven by a -12.4% change in the company's Total Revenues ($ Mil).| 12262022 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 25.92 | 21.82 | -15.82% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 122.82 | 107.53 | -12.45% |
| P/S Multiple | 4.90 | 4.86 | -0.82% |
| Shares Outstanding (Mil) | 23.21 | 23.94 | -3.15% |
| Cumulative Contribution | -15.90% |
Market Drivers
12/26/2023 to 12/25/2025| Return | Correlation | |
|---|---|---|
| CEVA | -6.8% | |
| Market (SPY) | 48.3% | 58.6% |
| Sector (XLK) | 53.5% | 60.8% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CEVA Return | 69% | -5% | -41% | -11% | 39% | -30% | -19% |
| Peers Return | 59% | 46% | -16% | 51% | -3% | 21% | 249% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| CEVA Win Rate | 75% | 42% | 25% | 42% | 58% | 67% | |
| Peers Win Rate | 65% | 62% | 38% | 60% | 52% | 48% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| CEVA Max Drawdown | -22% | -10% | -44% | -35% | -29% | -41% | |
| Peers Max Drawdown | -30% | -10% | -35% | -9% | -20% | -22% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CDNS, SNPS, QCOM, SLAB, RMBS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | CEVA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -77.5% | -25.4% |
| % Gain to Breakeven | 345.1% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -41.3% | -33.9% |
| % Gain to Breakeven | 70.5% | 51.3% |
| Time to Breakeven | 68 days | 148 days |
| 2018 Correction | ||
| % Loss | -59.6% | -19.8% |
| % Gain to Breakeven | 147.6% | 24.7% |
| Time to Breakeven | 749 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -61.1% | -56.8% |
| % Gain to Breakeven | 157.2% | 131.3% |
| Time to Breakeven | 548 days | 1,480 days |
Compare to QCOM, FSLR, SLAB, POWI, NVDA
In The Past
CEVA's stock fell -77.5% during the 2022 Inflation Shock from a high on 2/16/2021. A -77.5% loss requires a 345.1% gain to breakeven.
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CEVA, Inc. operates as a licensor of wireless connectivity and smart sensing technologies to semiconductor and original equipment manufacturer (OEM) companies worldwide. It designs and licenses various digital signal processors, AI processors, wireless platforms, and complementary software for sensor fusion, image enhancement, computer vision, voice input, and artificial intelligence (AI). The company licenses a family of wireless connectivity and smart sensing technologies, and integrated IP solutions, including DSP-based platforms for 5G baseband processing in mobile, IoT, and infrastructure; imaging and computer vision for any camera-enabled devices; audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets; sensor fusion software and inertial measurement unit solutions for hearables, wearables, AR/VR, PC, robotics, remote controls, and IoT; and wireless IoT for Bluetooth, Wi-Fi 4/5/6/6E, Ultra-wideband (UWB), and NB-IoT. Its technologies are licensed to companies, which design, manufacture, market, and sell application-specific integrated circuits and application-specific standard products to mobile, consumer, automotive, robotics, industrial, aerospace and defense, and IoT companies for incorporation into various end products. The company delivers its DSP cores, platforms, and AI processors in the form of a hardware description language definition; and offers development platforms, software development kits, and software debug tools that facilitate system design, debug, and software development. The company licenses its technology through a direct sales force. The company was formerly known as ParthusCeva, Inc. and changed its name to CEVA, Inc. in December 2003. CEVA, Inc. was incorporated in 1999 and is headquartered in Rockville, Maryland.
AI Analysis | Feedback
Here are 1-3 brief analogies for CEVA:
- CEVA is like ARM Holdings, but instead of general CPU designs, they license specialized processor 'blueprints' for AI, computer vision, and sound processing that make millions of smart devices intelligent and connected.
- CEVA provides the efficient AI and signal processing 'brains' found in millions of smart devices, acting like an NVIDIA for embedded, low-power AI technology that chipmakers license.
- CEVA is like a 'blueprints provider' for the specialized processing and wireless connectivity that goes into chips from companies like Qualcomm or Broadcom, making everything from earbuds to cars smart and connected.
AI Analysis | Feedback
- DSP Cores: These are programmable digital signal processor intellectual property (IP) cores designed to accelerate compute-intensive applications such as AI/machine learning, computer vision, and audio/voice processing in various embedded devices.
- Wireless Connectivity IP: This includes intellectual property (IP) platforms for standard-based wireless communication protocols, such as Bluetooth, Wi-Fi, 5G NR (New Radio), and Ultra-Wideband (UWB).
AI Analysis | Feedback
CEVA (symbol: CEVA) primarily operates on a Business-to-Business (B2B) model, licensing its intellectual property (IP) for wireless connectivity and smart sensing technologies to other companies.
According to CEVA's latest financial filings (10-K for the year ended December 31, 2023), no single customer accounted for more than 10% of its total revenue. As such, CEVA does not publicly disclose the names of specific "major customers" based on revenue concentration due to confidentiality and competitive reasons.
However, CEVA's technology is widely licensed and integrated into products by many prominent semiconductor companies globally. Examples of companies that have publicly announced licensing CEVA's IP and are significant players in the markets CEVA serves include:
- MediaTek Inc. (Symbol: 2454.TW) - A leading fabless semiconductor company for wireless communications and digital multimedia solutions, particularly in mobile, smart home, and IoT devices.
- Realtek Semiconductor Corp. (Symbol: 2379.TW) - Known for its development of communication network ICs, computer peripheral ICs, and multimedia ICs, widely used in various consumer electronics and IoT products.
- Rockchip Electronics Co., Ltd. (Symbol: 603893.SS) - A major Chinese fabless semiconductor company providing System-on-Chip (SoC) solutions for tablets, set-top boxes, AIoT devices, and more.
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Amir Panush, Chief Executive Officer
Amir Panush has served as CEVA's Chief Executive Officer since January 2023. Prior to this, Mr. Panush was CEO and General Manager of InvenSense, Inc., a TDK group company. He held various leadership positions at TDK following its acquisition of InvenSense in 2017. Mr. Panush joined InvenSense in 2015, where he led Strategy & Corporate Development, driving strategic expansion and diversification efforts, and achieved over 100% revenue growth at InvenSense since 2020. His career also includes several leadership roles at Qualcomm Inc. and strategic marketing and partnerships at Atheros Communications, which was acquired by Qualcomm. Earlier in his career, he held software engineering and project management leadership roles at Texas Instruments and Comsys Mobile (acquired by Intel).
Yaniv Arieli, Chief Financial Officer
Yaniv Arieli has served as CEVA's Chief Financial Officer since prior to 2002. Before his current position, Mr. Arieli was the President of U.S. Operations and Director of Investor Relations of DSP Group starting in August 2002. Prior to that, he served as Vice President of Finance, Chief Financial Officer, and Secretary of DSP Group's DSP Cores Licensing Division. Before joining DSP Group in 1997, Mr. Arieli worked as an account manager and certified public accountant at Kesselman & Kesselman, a member of PricewaterhouseCoopers.
Dotan Bar-Natan, Chief Legal Officer
Dotan Bar-Natan has served as CEVA's Chief Legal Officer since May 2025, leading the company's legal and compliance functions. He is a veteran attorney with over 20 years of extensive corporate and commercial legal experience. Before joining CEVA, Mr. Bar-Natan was the General Counsel of Nano Dimension, a 3D printing company, and prior to that, served as General Counsel of SodaStream International Ltd, overseeing all global legal and compliance affairs. He also worked at leading law firms in Tel Aviv.
Michael Boukaya, Chief Operating Officer
Michael Boukaya was appointed Chief Operating Officer of CEVA, Inc. in April 2019, overseeing all activities related to research and development and marketing for CEVA's hardware and software IP platforms. Prior to this, he served as Vice President and General Manager of the wireless business unit from 2014, and from 2006 to 2014, as Chief Architect of CEVA's DSP processor architectures. Before joining CEVA, Mr. Boukaya held various engineering and research and development management positions at DSP Group, Inc.
Gweltaz Toquet, Chief Commercial Officer
Gweltaz Toquet has served as CEVA's Chief Commercial Officer since January 2023. He brings over 20 years of sales and management experience at CEVA, most recently as Vice President of Sales for APAC, India, and Europe. For more than 15 years, he was CEVA's Vice President of Sales for Asia, where he established and managed the sales and support organization across China, Japan, Taiwan, and Korea. Before joining CEVA in 2002, Mr. Toquet held roles in sales, business development, product marketing, and business line management at Freehand DSP and Texas Instruments.
AI Analysis | Feedback
Here are the key risks to CEVA's business:-
Risks Associated with Mergers and Acquisitions (M&A)
CEVA has engaged in strategic financial maneuvers, including substantial acquisitions, to expand and strengthen its market presence and trajectory for long-term growth. However, these actions inherently pose potential financial and operational risks. These include difficulties in integrating the operations, personnel, technologies, products, and information systems of acquired companies, which can lead to a failure to realize anticipated cost efficiencies or synergies. Furthermore, M&A activities can divert management's attention from core business concerns and may result in the loss of key employees from acquired organizations. -
Dependence on Technological Innovation and Market Adoption; Intense Competition
CEVA operates in the highly competitive semiconductor and electronics industries, licensing digital signal processing (DSP) and AI processors, software development toolkits, and reference frameworks for rapidly evolving technologies such as 5G wireless communications, Bluetooth connectivity, audio, computer vision, sensor fusion, and edge AI. The company's success heavily relies on its ability to continuously innovate and keep pace with technological advancements, as well as the broad market adoption of the end products that utilize its technology (e.g., smartphones, automotive, IoT devices). Failure to remain at the forefront of these technological shifts or effectively compete with numerous established and emerging players in the "computer and technology" sector could significantly impact its business. -
Product Complexity and Potential for Defects
Given the intricate nature of CEVA's intellectual property (IP) and related solutions, there is an inherent risk that the detection of errors or defects in their products may be delayed. Should CEVA deliver products with defects, it could lead to customer dissatisfaction, reputational damage, financial liabilities, and potential loss of future business, especially in critical applications like automotive and 5G infrastructure.
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The increasing trend among major semiconductor companies and technology OEMs to develop their own custom silicon and intellectual property (IP) internally, particularly for differentiating components such as artificial intelligence (AI) accelerators, specialized digital signal processors (DSPs), and connectivity solutions. This growing vertical integration reduces the addressable market for third-party IP licensors like CEVA, as potential customers opt to design and implement these core technologies in-house rather than license them.
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CEVA, Inc. (NASDAQ: CEVA) operates in the intellectual property (IP) licensing space, providing silicon and software IP for smart edge devices. The company's main products and services focus on wireless connectivity, sensing, and artificial intelligence (AI) processing. The addressable markets for CEVA's key offerings include:- Overall Smart Edge Devices: CEVA's combined addressable market for connected devices was projected to exceed 35 billion units globally by 2020. More recently, over 17 billion smart edge products worldwide are powered by CEVA's technology. In 2024, CEVA-powered smart devices shipped reached a record 2 billion units globally.
- Wireless Connectivity IP: CEVA holds a significant share in the global wireless connectivity IP market, reaching 67% of IP revenues in 2023 and 68% in 2024. This encompasses Bluetooth, Wi-Fi, UWB (Ultra-Wideband), and 802.15.4 IPs.
- Bluetooth IoT: In 2023, CEVA estimated its worldwide Bluetooth IoT market share was 35%, excluding Apple.
- TWS Earbuds: CEVA's market share in TWS (True Wireless Stereo) earbuds was 45% globally in 2023, excluding Apple.
- Wi-Fi 6 IoT: CEVA anticipates capturing 25-30% of the Wi-Fi IoT market share within two years from August 2024.
- In Q4 2024, CEVA powered a record 1.1 billion Bluetooth devices, 179 million Wi-Fi devices, and 170 million cellular IoT devices.
- Edge AI NPUs (Neural Processing Units): The global Edge AI market, which CEVA's NeuPro NPU family targets, is expected to reach $143 billion by 2034.
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Expected Drivers of Future Revenue Growth for CEVA
Over the next 2-3 years, CEVA (NASDAQ: CEVA) is expected to drive revenue growth through several key areas, primarily centered around its intellectual property (IP) for smart edge devices and advanced connectivity solutions.
- Expansion in Artificial Intelligence (AI) and Edge AI NPUs: CEVA is heavily focused on leveraging its Neural Processing Units (NPUs) for Edge AI applications. The company has secured new licensing agreements for its NeuPro NPUs, underscoring the growing demand for its AI inference solutions. This strategic positioning in high-growth technology segments like Edge AI is expected to be a significant contributor to future revenue. CEVA's CEO, Amir Panouche, has emphasized the centrality of AI in next-generation audio experiences and the company's commitment to long-term investments in AI and emerging technologies. The company is also expanding its NPU business into infrastructure and data center markets.
- Growth in Advanced Wireless Connectivity (Wi-Fi, Bluetooth, 5G): CEVA anticipates strong performance from its Wi-Fi and Bluetooth technologies. The company projects revenue growth supported by expanding Wi-Fi penetration and has signed major long-term licensing agreements for its Wi-Fi platforms. Additionally, deals related to 5G modem technology, including one with a U.S.-based OEM, are expected to contribute significantly to future royalty revenue.
- Increased Adoption and Shipments of Consumer IoT and Smart Edge Devices: CEVA's strategy is encapsulated by its "Powering the Smart Edge" tagline, focusing on enabling intelligence in connected devices across multiple markets. The company has achieved a milestone of over 20 billion CEVA-powered device shipments, showcasing its robust IP portfolio and expanding market share. Royalty revenue, which is tied to the shipment of devices incorporating CEVA's IP, saw a sequential increase in Q2 2025 and is anticipated to continue growing in the second half of 2025, particularly from smartphones and IoT devices. Consumer IoT shipments specifically saw a robust 21% sequential and 60% year-over-year increase.
- Strategic Licensing Agreements and Customer Diversification: CEVA continues to secure new license agreements, including deals with first-time customers and OEMs, across a diverse customer base spanning multiple industries and end markets. These agreements, such as those for 5G-Advanced satellite communications and spatial audio for headphones and earbuds, create a foundation for driving licensing growth and generating strong, long-term royalty revenues. The diversification of its customer base and the continuous signing of new agreements for its IP portfolio are crucial for sustained revenue expansion.
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Share Repurchases
- In November 2024, CEVA, Inc.'s Board of Directors authorized an expansion of its share repurchase program, making approximately 1,056,000 shares available for repurchase, combining a new authorization of 700,000 shares with approximately 356,000 remaining from the existing plan as of September 30, 2024.
- In November 2023, the company's Board of Directors authorized an additional 700,000 shares for its repurchase program, bringing the total available for repurchase to approximately 844,000 shares as of September 30, 2023.
- During the second quarter of 2025, CEVA repurchased 300,000 shares for approximately $6.2 million.
Outbound Investments
- CEVA, Inc. completed a Merger/Acquisition with VisiSonics (RealSpace3D Spatial Audio Business) on May 10, 2023.
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| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 13.9% | 13.9% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.0% | 12.0% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 17.0% | 17.0% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 11.9% | 11.9% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 4.1% | 4.1% | 0.0% |
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Peer Comparisons for CEVA
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 154.72 |
| Mkt Cap | 48.2 |
| Rev LTM | 2,978 |
| Op Inc LTM | 581 |
| FCF LTM | 821 |
| FCF 3Y Avg | 721 |
| CFO LTM | 919 |
| CFO 3Y Avg | 798 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 17.4% |
| Rev Chg 3Y Avg | 8.1% |
| Rev Chg Q | 16.4% |
| QoQ Delta Rev Chg LTM | 3.8% |
| Op Mgn LTM | 20.5% |
| Op Mgn 3Y Avg | 22.9% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 26.3% |
| CFO/Rev 3Y Avg | 27.7% |
| FCF/Rev LTM | 23.7% |
| FCF/Rev 3Y Avg | 24.9% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| The licensing of intellectual property (IP) to semiconductor companies and electronic equipment | 97 | ||||
| Connect (baseband for handset and other devices, Bluetooth, Wi-Fi and Narrowband Internet-of-Things | 94 | ||||
| Sense & Infer (sensor fusion, audio, sound, imaging, vision and Artificial Intelligence (AI)) | 26 | ||||
| Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, Narrowband Internet) | 89 | 79 | 71 | ||
| Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) | 33 | 22 | 16 | ||
| Total | 97 | 121 | 123 | 100 | 87 |
Price Behavior
Price Behavior
| Market Price | $21.82 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 11/01/2002 | |
| Distance from 52W High | -43.2% | |
| 50 Days | 200 Days | |
| DMA Price | $23.99 | $23.81 |
| DMA Trend | down | down |
| Distance from DMA | -9.1% | -8.4% |
| 3M | 1YR | |
| Volatility | 65.5% | 65.1% |
| Downside Capture | 468.48 | 278.89 |
| Upside Capture | 280.95 | 201.55 |
| Correlation (SPY) | 69.4% | 65.1% |
CEVA Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.06 | 3.52 | 3.43 | 3.36 | 2.11 | 1.96 |
| Up Beta | 0.83 | 1.90 | 2.14 | 2.85 | 1.94 | 1.91 |
| Down Beta | 1.16 | 4.16 | 4.51 | 4.35 | 1.99 | 1.82 |
| Up Capture | 174% | 278% | 314% | 378% | 365% | 900% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 9 | 22 | 33 | 62 | 113 | 348 |
| Down Capture | 461% | 377% | 319% | 269% | 155% | 111% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 19 | 28 | 59 | 131 | 393 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of CEVA With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| CEVA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -29.4% | 26.7% | 19.2% | 71.9% | 8.9% | 6.0% | -10.1% |
| Annualized Volatility | 64.7% | 27.6% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | -0.28 | 0.84 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 69.5% | 65.2% | 10.5% | 24.6% | 33.8% | 31.0% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of CEVA With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| CEVA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -11.3% | 19.0% | 14.9% | 18.7% | 11.7% | 4.8% | 32.7% |
| Annualized Volatility | 53.7% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | -0.02 | 0.69 | 0.70 | 0.97 | 0.51 | 0.17 | 0.60 |
| Correlation With Other Assets | 61.9% | 58.2% | 13.4% | 15.8% | 37.4% | 29.2% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of CEVA With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| CEVA | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -1.2% | 22.3% | 14.7% | 14.9% | 6.9% | 5.2% | 69.3% |
| Annualized Volatility | 49.3% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.17 | 0.84 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 59.5% | 55.3% | 8.1% | 16.2% | 35.6% | 19.7% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/10/2025 | -0.6% | -6.1% | -10.9% |
| 8/11/2025 | -1.8% | 7.3% | 5.2% |
| 5/7/2025 | -20.2% | -16.3% | -24.7% |
| 2/13/2025 | 10.2% | 15.3% | -2.7% |
| 11/7/2024 | 16.5% | 10.0% | 25.7% |
| 8/7/2024 | 20.5% | 34.7% | 41.4% |
| 5/9/2024 | -4.3% | -3.6% | -5.2% |
| 2/14/2024 | 21.4% | 11.6% | 15.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 8 |
| # Negative | 13 | 15 | 16 |
| Median Positive | 8.5% | 7.7% | 6.3% |
| Median Negative | -7.5% | -6.1% | -9.6% |
| Max Positive | 21.4% | 34.7% | 41.4% |
| Max Negative | -20.2% | -19.3% | -25.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11102025 | 10-Q 9/30/2025 |
| 6302025 | 8112025 | 10-Q 6/30/2025 |
| 3312025 | 5082025 | 10-Q 3/31/2025 |
| 12312024 | 2272025 | 10-K 12/31/2024 |
| 9302024 | 11082024 | 10-Q 9/30/2024 |
| 6302024 | 8082024 | 10-Q 6/30/2024 |
| 3312024 | 5092024 | 10-Q 3/31/2024 |
| 12312023 | 3072024 | 10-K 12/31/2023 |
| 9302023 | 11092023 | 10-Q 9/30/2023 |
| 6302023 | 8092023 | 10-Q 6/30/2023 |
| 3312023 | 5102023 | 10-Q 3/31/2023 |
| 12312022 | 3012023 | 10-K 12/31/2022 |
| 9302022 | 11092022 | 10-Q 9/30/2022 |
| 6302022 | 8092022 | 10-Q 6/30/2022 |
| 3312022 | 5102022 | 10-Q 3/31/2022 |
| 12312021 | 3012022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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