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CEVA (NASDAQ:CEVA), Inc. shares have reached a new 52-week high, with the stock price touching $37.78. This milestone reflects a significant uptrend for the semiconductor company, which specializes in signal processing IP for the smarter, connected world. With a market capitalization of $887 million and impressive gross profit margins of 88%, CEVA demonstrates strong operational efficiency. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. Investors have shown increased confidence in CEVA’s market position and growth prospects, propelling the stock to this new height. Over the past year, CEVA has witnessed an impressive 69.22% change in its stock value, underscoring the strong performance and investor optimism surrounding the company’s future in an ever-evolving tech landscape. Analyst price targets range from $21 to $45, with revenue growth forecast at 9% for the coming year. For deeper insights and additional ProTips, explore CEVA’s comprehensive research report on InvestingPro.
In other recent news, CEVA Inc. reported fourth-quarter 2024 results that exceeded expectations, with revenue reaching $29.2 million and adjusted earnings per share (EPS) hitting $0.11. These figures surpassed analysts’ estimates of $27.5 million in revenue and an EPS of $0.11, according to Oppenheimer. In light of these strong results, Oppenheimer raised its price target for CEVA to $40, maintaining an Outperform rating. Additionally, CEVA announced that ListenAI Technology has integrated its Wi-Fi 6 IP into edge AI processors, enhancing performance for various smart devices. In corporate governance updates, CEVA welcomed Amir Faintuch to its Board of Directors, bringing extensive experience from his roles at major semiconductor companies. The company also disclosed updates to its executive compensation plans, including performance-based bonuses for top executives, contingent on achieving specific financial targets by 2025. Furthermore, CEVA’s Board approved amendments to director compensation, aligning with industry practices. These developments reflect CEVA’s ongoing strategic efforts to enhance shareholder value and expand its technological footprint.
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