CEVA
CEVA, Inc.

CEVA, Inc.CEVA

Technology · Semiconductors
27.10USD
+10.34%
Nov 08, 2026
CEVA overview ready
Licensor of low-power edge AI and wireless connectivity IP for SoCs
CEVA is a licensor of silicon and software IP for smart-edge SoCs.
Primary theme is lagging
EDA & Semiconductor IP is lagging (-12.5pp vs SPY over 21 sessions; 0 of 5 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Dependence on semiconductor industry cycles and customer chip adoption.
Market Nov 6Price action Nov 7Research Oct 15

Conviction Level

PriceAction5.4BusinessPerformance7.0BusinessQuality4.1Valuation2.8ThemeMomentum1.0Improving — Revenue growth has accelerated across 4 consecutive quarters, rising from +4.3% to +13% year over year. No comparable quarterly EPS is available; the net loss moved to -$2.9M from -$3.7M a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−12.5pp
Theme return
−17.4%
Beating SPY
0 of 5
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
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Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$762.6M
Avg Volume (60D)
559.5K
60 sessions
Revenue Growth YoY
+8.8%
Trailing twelve months
Gross Margin
+87.5%
Operating Margin
-9.6%
Trailing twelve months
Free Cash Flow Yield
+0.7%
Distance from 200DMA
-11.7%
Next Earnings
2026-11-09
P/E
N/M
EV / Sales
4.8x
Market metrics as of Nov 7, 2026

Business Performance

Improving

Revenue growth has accelerated across 4 consecutive quarters, rising from +4.3% to +13% year over year. No comparable quarterly EPS is available; the net loss moved to -$2.9M from -$3.7M a year earlier.

Latest reported: Q2 FY2026, ended Jun 30
Revenue growthAccelerating
+13%
$29.0M in Q2 FY2026 · YoY
YoY growth, last 4 quarters
  1. +4.3%
  2. +7.1%
  3. +12%
  4. +13%
Earnings growthLoss narrowing
-$2.9M
Net income -$2.9M. No comparable quarterly EPS is available.
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginSwinging
-7.2%
+10.3 pp YoY · gross margin 87.4% (+1.3 pp)

Business Quality

4.1 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
CEVA, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. It trades at 5.4x revenue, which requires sustained delivery to be justified.

What changed

  • CEVA rose 10.3% in one session
    CEVA closed +10.3% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
CEVA is a licensor of silicon and software IP for smart-edge SoCs. Its portfolio spans wireless connectivity and communications IP, DSPs, neural-processing IP, and sensor-fusion software; revenue comes from upfront licenses and recurring royalties when customers ship chips incorporating its IP.
Opportunity
Moderate opportunity
Semiconductor designers are embedding local AI inference, sensing, and high-bandwidth wireless connectivity into battery- and thermally-constrained devices, increasing demand for licensable processor, DSP, NPU, and connectivity IP that reduces SoC development time and power-performance risk.
Key risk
Dependence on semiconductor industry cycles and customer chip adoption.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

CEVA, Inc. licenses silicon and software intellectual property (IP) to semiconductor and original equipment manufacturer companies globally, enabling the development of smart-edge system-on-chips (SoCs).

How it earns

The company generates revenue through upfront license fees and recurring royalties based on chip shipments incorporating its IP.

Products & services
PentaG-RAN hardware and software IP for 5G baseband processing
Ceva XC20 and XC21 digital signal processors (DSPs)
Ceva-BX2 baseband processor
Neural processing units and sensor-fusion software
Customers & end markets
Semiconductor companies
Original equipment manufacturers (OEMs) in wireless connectivity and IoT devices
Market position

Niche licensor specializing in wireless connectivity, DSP, and AI IP for edge SoCs.

Demand drivers
Medium cyclicality

Revenue depends on semiconductor industry cycles and customer chip production volumes.

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