(CEVA) CEVA - Overview

Sector: Technology | Industry: Semiconductors | Exchange: NASDAQ (USA) | Market Cap: 1.016m USD | Total Return: 71.2% in 12m

Digital Signal Processors, Wireless Connectivity, Artificial Intelligence
Total Rating 41
Safety 94
Buy Signal -0.10
Semiconductors
Industry Rotation: +15.8
Market Cap: 1.02B
Avg Turnover: 33.3M
Risk 3d forecast
Volatility57.3%
VaR 5th Pctl8.87%
VaR vs Median-6.64%
Reward TTM
Sharpe Ratio1.14
Rel. Str. IBD91.9
Rel. Str. Peer Group41.1
Character TTM
Beta2.421
Beta Downside2.278
Hurst Exponent0.439
Drawdowns 3y
Max DD55.23%
CAGR/Max DD0.34
CAGR/Mean DD0.76
EPS (Earnings per Share) EPS (Earnings per Share) of CEVA over the last years for every Quarter: "2021-03": 0.01, "2021-06": 0.22, "2021-09": 0.2, "2021-12": 0.22, "2022-03": 0.18, "2022-06": 0.18, "2022-09": 0.2, "2022-12": 0.23, "2023-03": -0.2088, "2023-06": -0.02, "2023-09": 0.02, "2023-12": 0.1, "2024-03": -0.05, "2024-06": 0.17, "2024-09": 0.14, "2024-12": 0.11, "2025-03": 0.06, "2025-06": 0.07, "2025-09": 0.11, "2025-12": 0.18, "2026-03": 0,
EPS CAGR: -14.75%
EPS Trend: -2.5%
Last SUE: -1.77
Qual. Beats: -1
Revenue Revenue of CEVA over the last years for every Quarter: 2021-03: 25.402, 2021-06: 30.457, 2021-09: 32.79, 2021-12: 34.057, 2022-03: 34.391, 2022-06: 33.195, 2022-09: 30.05, 2022-12: 33.402, 2023-03: 26.262, 2023-06: 22.922, 2023-09: 24.073, 2023-12: 24.162, 2024-03: 22.072, 2024-06: 28.437, 2024-09: 27.207, 2024-12: 29.223, 2025-03: 24.245, 2025-06: 25.678, 2025-09: 28.384, 2025-12: 31.291, 2026-03: 27.024,
Rev. CAGR: -5.34%
Rev. Trend: -13.4%
Last SUE: 0.49
Qual. Beats: 0

Warnings

Share dilution 16.5% YoY

High Debt/EBITDA (32.5) with thin interest coverage (-3.5)

High Debt while negative Cash Flow

Interest Coverage Ratio -3.5 is critical

Fakeout Choppy

Tailwinds

No distinct edge detected

Description: CEVA CEVA

CEVA, Inc. is a licensor of wireless connectivity and smart sensing technologies, providing silicon and software intellectual property (IP) to semiconductor firms and original equipment manufacturers. The company’s portfolio focuses on digital signal processors (DSPs), AI processors, and platforms for 5G, Bluetooth, Wi-Fi, and Ultra-Wideband connectivity. Its solutions are integrated into diverse end-markets, including mobile, consumer electronics, automotive, and industrial IoT devices.

Operating within the semiconductor IP sector, CEVA utilizes a licensing and royalty business model. This high-margin approach allows the company to generate revenue from initial licensing fees and recurring royalties for every chip shipped containing its IP. As edge computing grows, the company has expanded into neural processing units (NPUs) to support generative and embedded AI applications directly on hardware.

Investors can further evaluate these revenue streams and market positioning by reviewing the detailed metrics on ValueRay.

Headquartered in Rockville, Maryland, CEVA maintains a global footprint with operations across Europe, Asia, and the Middle East. The company provides both hardware IP and specialized software modules, such as spatial audio and sensor fusion, to enable complex system-on-chip (SoC) designs.

Headlines to Watch Out For
  • Royalty revenue growth depends on 5G infrastructure deployment and mobile handset volume
  • Expansion of Bluetooth and Wi-Fi IP licensing drives short-term revenue growth
  • Adoption of NeuPro-M NPU IP determines long-term positioning in edge AI markets
  • High concentration of semiconductor customers in China creates significant geopolitical risk
  • Shift toward royalty-heavy business model impacts quarterly earnings volatility and margins
Piotroski VR‑10 (Strict) 2.0
Net Income: -11.8m TTM > 0 and > 6% of Revenue
FCF/TA: -0.05 > 0.02 and ΔFCF/TA -5.71 > 1.0
NWC/Revenue: 225.6% < 20% (prev 172.2%; Δ 53.40% < -1%)
CFO/TA -0.01 > 3% & CFO -837k > Net Income -11.8m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 10.26 > 1.5 & < 3
Outstanding Shares: last quarter (27.7m) vs 12m ago 16.47% < -2%
Gross Margin: 87.19% > 18% (prev 0.87%; Δ 8.63k% > 0.5%)
Asset Turnover: 53.85% > 50% (prev 35.20%; Δ 18.65% > 0%)
Interest Coverage Ratio: -3.47 > 6 (EBITDA TTM -5.96m / Interest Expense TTM 1.23m)
Altman Z'' 10.00
A: 2.36 (Total Current Assets 280.9m - Total Current Liabilities 27.4m) / Total Assets 107.4m
B: -0.04 (Retained Earnings -4.48m / Total Assets 107.4m)
C: -0.02 (EBIT TTM -4.27m / Avg Total Assets 208.7m)
D: -0.23 (Book Value of Equity -5.12m / Total Liabilities 22.7m)
Altman-Z'' Score: 14.98 = AAA
Beneish M -4.00
DSRI: 1.16 (Receivables 48.9m/40.8m, Revenue 112.4m/109.1m)
GMI: 1.00 (GM 87.19% / 87.40%)
AQI: -7.11 (AQ_t -1.86 / AQ_t-1 0.26)
SGI: 1.03 (Revenue 112.4m / 109.1m)
TATA: -0.10 (NI -11.8m - CFO -837k) / TA 107.4m)
Beneish M-Score: -7.78 (Cap -4..+1) = AAA
What is the price of CEVA shares? As of May 17, 2026, the stock is trading at USD 36.51 with a total of 645,445 shares traded.
Over the past week, the price has changed by -1.24%, over one month by +64.83%, over three months by +78.53% and over the past year by +71.17%.
Is CEVA a buy, sell or hold? CEVA has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy CEVA.
  • StrongBuy: 3
  • Buy: 2
  • Hold: 1
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the CEVA price?
Analysts Target Price 32.4 -11.3%
CEVA (CEVA) - Fundamental Data Overview as of 13 May 2026
P/E Forward = 74.0741
P/S = 9.268
P/B = 3.0612
P/EG = 3.697
Revenue TTM = 112.4m USD
EBIT TTM = -4.27m USD
EBITDA TTM = -5.96m USD
Long Term Debt = 16.1m USD (from capitalLeaseObligations, last fiscal year)
Short Term Debt = 2.79m USD (from shortTermDebt, last quarter)
Debt = 16.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -193.7m USD (recalculated: Debt 16.9m - CCE 210.6m)
Enterprise Value = 822.1m USD (1.02b + Debt 16.9m - CCE 210.6m)
Interest Coverage Ratio = -3.47 (Ebit TTM -4.27m / Interest Expense TTM 1.23m)
EV/FCF = -142.7x (Enterprise Value 822.1m / FCF TTM -5.76m)
FCF Yield = -0.70% (FCF TTM -5.76m / Enterprise Value 822.1m)
FCF Margin = -5.13% (FCF TTM -5.76m / Revenue TTM 112.4m)
Net Margin = -10.47% (Net Income TTM -11.8m / Revenue TTM 112.4m)
Gross Margin = 87.19% ((Revenue TTM 112.4m - Cost of Revenue TTM 14.4m) / Revenue TTM)
Gross Margin QoQ = 86.20% (prev 88.08%)
Tobins Q-Ratio = 7.66 (Enterprise Value 822.1m / Total Assets 107.4m)
Interest Expense / Debt = 7.29% (Interest Expense 1.23m / Debt 16.9m)
Taxrate = 21.0% (US default 21%)
NOPAT = -3.37m (EBIT -4.27m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 10.26 (Total Current Assets 280.9m / Total Current Liabilities 27.4m)
Debt / Equity = 0.05 (Debt 16.9m / totalStockholderEquity, last quarter 338.2m)
 Debt / EBITDA = 32.51 (negative EBITDA) (Net Debt -193.7m / EBITDA -5.96m)
 Debt / FCF = 33.61 (negative FCF - burning cash) (Net Debt -193.7m / FCF TTM -5.76m)
 Total Stockholder Equity = 302.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.64% (Net Income -11.8m / Total Assets 107.4m)
RoE = -3.89% (Net Income TTM -11.8m / Total Stockholder Equity 302.3m)
RoCE = -1.34% (EBIT -4.27m / Capital Employed (Equity 302.3m + L.T.Debt 16.1m))
 RoIC = -1.16% (negative operating profit) (NOPAT -3.37m / Invested Capital 290.4m)
 WACC = 14.36% (E(1.02b)/V(1.03b) * Re(14.50%) + D(16.9m)/V(1.03b) * Rd(7.29%) * (1-Tc(0.21)))
Discount Rate = 14.50% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.44 | Cagr: 6.65%
 [DCF] Fair Price = unknown (Cash Flow -5.76m)
 EPS Correlation: -2.49 | EPS CAGR: -14.75% | SUE: -1.77 | # QB: -1
Revenue Correlation: -13.35 | Revenue CAGR: -5.34% | SUE: 0.49 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.08 | Chg30d=+1.35% | Revisions=-43% | Analysts=8
EPS current Year (2026-12-31): EPS=0.50 | Chg30d=-0.42% | Revisions=-43% | GrowthEPS=+18.8% | GrowthRev=+10.0%
EPS next Year (2027-12-31): EPS=0.80 | Chg30d=-0.78% | Revisions=-43% | GrowthEPS=+60.7% | GrowthRev=+13.9%
[Analyst] Revisions Ratio: -43%