CEVA has strung together four straight quarters without an earnings miss, but the stock trades at a rich ~49x forward multiple with a quality score below the engine's floor (a failing Rule of 40 score of 15) and its price target already reached with a negative risk/reward read, so the setup requires either a valuation reset or renewed upside from a raised target.
Thesis pillars
- Rich Forward Multiple↓Deteriorating
- Quality Below Floor→Stable
- Target Reached Negative Asymmetry↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 5, 2026, based on the 10-K filed Feb 27, 2026
CEVA, Inc. (CEVA) Stock Analysis
Range Bound setup
Technology · Semiconductors
Sell if holding. Engine safety override at $32.37: Quality below floor (3.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10 and A.R:R 1.5:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 11%; Below-average business quality.
CEVA, Inc. licenses semiconductor and software intellectual property for wireless connectivity, sensing, and AI inference — the 'connect, sense, infer' layers of Physical AI — to semiconductor and OEM customers who embed it in more than 2 billion devices shipped annually. The... Read more
Sell if holding. Engine safety override at $32.37: Quality below floor (3.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10 and A.R:R 1.5:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 11%; Below-average business quality. Chart setup: RSI 45 mid-range, Bollinger mid-band. Score 5.3/10, moderate confidence.
Passes 5/7 gates (positive momentum, favorable risk/reward ratio, clean insider activity, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About CEVA, Inc.
About CEVA, Inc.
CEVA licenses wireless connectivity, sensing, and AI-inference intellectual property to semiconductor and OEM customers who have shipped more than 20 billion CEVA-powered devices since 2003, with roughly 2 billion shipped annually today. China alone accounted for 62% of CEVA's total revenue in 2025, up from 49% in 2024, while Europe, Middle East, and Asia Pacific customers combined made up 82% of revenue. CEVA holds the #1 worldwide market share in wireless connectivity IP, with 68% global share in 2024.
CEVA operates a licensing-and-royalty model: customers pay upfront fees for access to IP cores, software, and development tools, then pay recurring per-unit or percentage-based royalties as they ship products containing CEVA technology, with royalty revenue subject to seasonal declines in the first quarter of each year tied to post-holiday consumer shipment patterns. Publicly disclosed licensees span the semiconductor value chain, including Broadcom, Intel, MediaTek, Qualcomm, Samsung, NXP, STMicroelectronics, and Renesas, among seven of the world's top ten MCU vendors, reflecting broad customer diversification even as revenue concentrates geographically. The company runs a globally distributed R&D organization of more than 400 professionals across development centers in France, Greece, Ireland, Israel, Serbia, and the U.S., supporting three technology pillars — Connect (Bluetooth, Wi-Fi, UWB, cellular IoT, 5G RAN), Sense (SensPro DSPs, MotionEngine, RealSpace spatial audio), and Infer (NeuPro-Nano and NeuPro-M NPUs) — that customers integrate into ASICs, ASSPs, and SoCs they manufacture and sell.
Show full overview
CEVA's revenue is now more concentrated in China than in any prior year on record — 62% of 2025 revenue versus 49% in 2024 — at the same time that the 10-K flags tightening U.S. restrictions on the transfer of advanced AI chips, semiconductors, and supercomputing items to China, along with expanding restricted-party lists. Because CEVA licenses IP rather than manufactures physical goods, it cannot simply redirect shipments to another market if U.S. export-control tightening or Chinese economic softening disrupts royalty-generating unit volumes from Chinese semiconductor and OEM customers, making its single largest revenue geography also its single largest near-term policy risk.
See also: Technology · Semiconductors
From CEVA, Inc.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-10-29Recent Developments — CEVA, Inc.
Latest news
- NEWS Ceva, Inc. Unveils Next-Generation NeuPro NPU Portfolio — fiscal.ai Oct 28, 2026 positive
- NEWS Ceva Launches NeuPro NPU Portfolio To Deliver Up To 2x Higher AI Throughput Per mm² And 50% Improvement In Energy Effici — benzinga Oct 28, 2026 positive
- NEWS TD Cowen Lowers Price Target for CEVA, Inc. — fiscal.ai Oct 19, 2026 negative
- NEWS 10 Information Technology Stocks Moving In Friday's Pre-Market Session — benzinga Oct 9, 2026 neutral
- NEWS Full Transcript: CEVA Q2 2026 Earnings Call — benzinga Sep 17, 2026 neutral
Generated 2026-10-29T11:14:31Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicChina62%10-K Item 1: 'with customers in China accounting for 62% and 49% of total revenues for 2025 and 2024, respectively.'
Material Events(8-K, last 90d)
- 2026-04-20Item 5.02LOWBoard member Sven-Christer Nilsson announced his retirement from Ceva's Board effective immediately prior to the 2026 Annual Meeting and will not stand for re-election. The Company stated the decision was not the result of any disagreement over Ceva's operations, policies, or practices.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
1 floor-breaker
Unprofitable operations — net margin -9.5%. Quality floor flags this regardless of sector context.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $32.37: Quality below floor (3.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10 and A.R:R 1.5:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 11%; Below-average business quality. Chart setup: RSI 45 mid-range, Bollinger mid-band. Prior stop was $30.10. Score 5.3/10, moderate confidence.
Analyst target: $39.63 (+22.4% upside). Prior stop was $30.10. Stop-loss: $30.10.
Concentration risk — Geographic: China (62.0%); Quality below floor (3.8 < 4.0).
CEVA, Inc. trades at a P/E of N/A (forward 40.3). TrendMatrix value score: 4.9/10. Verdict: Sell.
16 analysts cover CEVA with a consensus score of 4.1/5. Average price target: $46.
What does CEVA, Inc. do?CEVA, Inc. licenses semiconductor and software intellectual property for wireless connectivity, sensing, and AI...
CEVA, Inc. licenses semiconductor and software intellectual property for wireless connectivity, sensing, and AI inference — the 'connect, sense, infer' layers of Physical AI — to semiconductor and OEM customers who embed it in more than 2 billion devices shipped annually. The company holds the #1 worldwide wireless connectivity IP market share (68% in 2024) and earns revenue through upfront licensing fees plus per-unit royalties, with China alone accounting for 62% of 2025 total revenue, up from 49% in 2024.