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Ceva (CEVA -14.3%) tanks after providing light Q1 guidance - revenue of $12M-$13M and EPS of...

Ceva (CEVA -14.3%) tanks after providing light Q1 guidance - revenue of $12M-$13M and EPS of $0.13-$0.15 vs. a consensus of $14M and $0.22 - to go with an in-line Q4. The DSP core/SoC licensing firm is suffering from declining sales of 2G phones that rely on baseband chips featuring Ceva's IP, as well as lower ASPs for those chips.Ceva, which has licensed its designs to Intel, Broadcom, Spreadtrum, and ST-Ericsson, is counting on 3G/4G smartphone sales to fuel a 2H royalty rebound.
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