CEVA: A Good Time To Buy
Edward Schneider, CFA
Edward Schneider, CFA
CEVA 40% Upside, Shares Have Limited Downside Risk
Ashraf Eassa • 11 Comments
Ashraf Eassa • 11 Comments
Mon, May 2, 7:02 AM
Sun, May 1, 5:30 PM
Wed, Feb. 3, 7:11 AM
- CEVA (NASDAQ:CEVA): Q4 EPS of $0.17 in-line.
- Revenue of $16.07M (+16.3% Y/Y) beats by $0.4M.
Tue, Feb. 2, 5:30 PM
Nov. 6, 2015, 4:47 PM
- The Philadelphia Semi Index (SOXX +2.6%) rallied after Nvidia (NVDA +13.9%) beat estimates and provided strong guidance (gaming GPUs led the way), Skyworks (SWKS +7.1%) offered good calendar Q4 guidance and RF chip peer Qorvo (QRVO +23.2%) posted better-than-feared results and guidance. The Nasdaq rose just 0.4%.
- Also: Analog/Ethernet chipmaker Microsemi (MSCC +4.9%) beat calendar Q3 revenue estimates and offered solid Q4 guidance: Revenue of $325M-$329M and EPS of $0.70-$0.74 vs. a consensus of $323.5M and $0.72.
- Big gainers today included specialty foundry/Skyworks supplier TowerJazz (TSEM +6%), smart TV/home automation chipmaker Sigma Designs (SIGM +16.6%), telecom/networking IC provider InPhi (IPHI +6.7%), touch controller/LCD driver supplier Synaptics (SYNA +6.1%), FPGA maker Lattice Semi (LSCC +6.6%), network processor vendor Cavium (CAVM +5.6%), DSP core IP provider CEVA (CEVA +7.2%), and analog/mixed-signal chipmakers MagnaChip (MX +4.6%) and Semtech (SMTC +5.4%).
- On its earnings call (transcript), Qorvo mentioned Chinese smartphone demand (a recent headwind) is "seeing a bit of a rebound," and that the launch of 5-mode and 6-mode Chinese 4G phones is boosting RF chip content. Qorvo also thinks Chinese base station activity (an issue for many telecom chip/component firms) bottomed in Q3, but cautions a mobile infrastructure recovery is expected to be gradual.
- Microsemi stated on its call (transcript) broadband gateway chip sales were a Q3 strong point, that telecom infrastructure began to improve, and that defense/aerospace sales are expected to rebound in 2016. Industrial demand remained soft in Q3.
- MKM's Ian Ing has upgraded Nvidia to Buy, calling shares "expensive and worth it." Ing: "We see a sustainable growth trajectory, given [Nvidia's] positioning to lead in significant paradigm changes favoring more valuable semiconductor solutions: automotive evolving from driver assist to autonomous driving, gaming transitioning to virtual reality and professional or social E-sports, and cloud computing increasingly using GPU accelerators for machine learning."
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
- Last week: Chip stocks sell off after NXP, STMicro, others issue soft guidance
Nov. 2, 2015, 7:03 AM
- CEVA (NASDAQ:CEVA): Q3 EPS of $0.22 beats by $0.06.
- Revenue of $16.24M (+15.2% Y/Y) beats by $0.35M.
Nov. 1, 2015, 5:30 PM
Oct. 5, 2015, 11:47 AM
- CEVA now expects Q3 revenue of $16.2M, above prior guidance of $15M-$16M and a $15.4M consensus. EPS is expected to top prior guidance of $0.14-$0.16; consensus is at $0.15. (PR)
- The company cites "robust licensing demand" across its IP portfolio, and growing shipments of 4G smartphones containing chips featuring CEVA's DSP cores.
- Shares are at their highest levels since June. Full Q3 results are due on Nov. 2.
Jul. 30, 2015, 7:05 AM
- CEVA (NASDAQ:CEVA): Q2 EPS of $0.06 beats by $0.01.
- Revenue of $13.4M (+45.3% Y/Y) beats by $0.27M.
Jul. 29, 2015, 5:30 PM
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May 4, 2015, 7:02 AM
- CEVA (NASDAQ:CEVA): Q1 EPS of $0.08 beats by $0.01.
- Revenue of $13.83M (+1.2% Y/Y) beats by $0.58M.
May 3, 2015, 5:30 PM
Feb. 3, 2015, 7:01 AM
- CEVA (NASDAQ:CEVA): Q4 EPS of $0.08 beats by $0.01.
- Revenue of $13.82M (-1.1% Y/Y) beats by $0.63M.
Feb. 2, 2015, 5:30 PM
Oct. 30, 2014, 7:07 AM
- CEVA (NASDAQ:CEVA): Q3 EPS of $0.12 beats by $0.02.
- Revenue of $14.09M (+40.9% Y/Y) beats by $0.24M.
CEVA, Inc. is the licensor of silicon intellectual property primarily for mobile, digital home and networking markets. It has been licensing a portfolio of Digital Signal Processor cores, subsystems and platforms to semiconductor and original equipment manufacturer companies worldwide. Its... More
Industry: Semiconductor - Specialized
Country: United States
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