CEVA

U.S. Stock Market Update: U.S. stock futures rose this morning, with Dow futures increasing by approximately 300 points, while several stocks, including James Hardie Industries and Progyny, saw significant declines in pre-market trading.

Notable Stock Movements: James Hardie Industries shares dropped 12.7% after announcing an $8.75 billion acquisition of AZEK, alongside other companies like New Oriental Education and MINISO Group also experiencing notable losses in their stock prices.

Strategic Collaboration: Ceva has partnered with Arm and SynaXG to create a customized 5G-Advanced solution aimed at enhancing energy efficiency for 5G NR processing in wireless networks and satellites.

Power Efficiency Breakthrough: The collaboration has led to significant reductions in power consumption for 5G workloads, facilitating the development of more compact and environmentally friendly infrastructure.

Collaboration for 5G-Advanced Solutions: Ceva, Arm, and SynaXG have partnered to create a customized 5G-Advanced solution that significantly enhances energy efficiency in wireless network equipment, achieving 10X better efficiency than traditional methods and 20X more than FPGA-based alternatives.

Innovative Technology Integration: The solution integrates Ceva's PentaG-RAN platform with Arm's Neoverse N2 CPUs and SynaXG's software, aiming to revolutionize the infrastructure for 5G and future 6G networks by reducing power consumption and environmental impact while enabling compact and lightweight designs.

Ceva-PentaG2 Platform and ASUKA SoC: Ceva, Inc. has partnered with Sharp Semiconductor Innovation Corporation to develop the ASUKA software-defined System-on-Chip (SoC) for Beyond 5G IoT terminals, utilizing the scalable Ceva-PentaG2 platform to enhance flexibility and customization in cellular IoT communications.

Features and Market Impact: The ASUKA SoC aims to democratize cellular IoT by providing a customizable alternative to traditional 5G SoCs, featuring a scalable architecture and various expansion interfaces that allow developers to create tailored IoT solutions while ensuring compatibility with future communication standards.

New DSP Launch: Ceva, Inc. has introduced two new high-performance baseband vector DSPs, the Ceva-XC21 and Ceva-XC23, designed for advanced 5G and pre-6G applications, featuring AI support and significant improvements in performance and efficiency.

Key Features and Availability: The DSPs offer scalable architecture with dual-thread design, optimized for various applications, and will be available for general licensing by the end of the first quarter.

U.S. Stock Market Performance: U.S. stocks showed mixed results, with the Dow Jones dropping over 150 points while several companies, including Workday and Porch Group, reported better-than-expected quarterly financial results leading to significant gains in their stock prices.

Notable Stock Gains: Companies like Workday, Gaotu Techedu, and CommScope saw substantial increases in their shares, with Workday's stock rising 6.3% after reporting earnings of $1.92 per share, surpassing analyst expectations.

Oppenheimer's Rating on Ceva: Oppenheimer has raised its price target for Ceva (CEVA) to $40 from $36, maintaining an Outperform rating due to stronger than expected Q4 results and positive trends in connectivity and edge devices.

Investment Insights: TipRanks offers a Smart Score tool to help investors identify top-performing stocks and compare their picks with recommendations from leading Wall Street analysts.

Price Target Increase: Barclays raised Ceva's price target to $40 from $34, maintaining an Overweight rating after the company reported a 21% year-over-year revenue growth in Q4, exceeding expectations.

Positive Outlook for 2025: Analysts believe Ceva's 2025 outlook is "de-risked" with a revenue guidance midpoint of 9%.

Ceva Analyst Ratings: Analysts maintain a bullish outlook on Ceva, with Roth MKM setting a Buy rating and a price target of $40.00, while the consensus suggests a Strong Buy with an average target of $40.33, indicating potential upside.

Datadog Analyst Ratings: Datadog also receives positive analyst sentiment, with a Buy rating from William Blair and an average price target of $166.41, reflecting a Strong Buy consensus and a projected 21.9% upside.

Analyst Rating and Price Target: Kevin Cassidy from Rosenblatt Securities has maintained a Buy rating on Ceva, setting a price target of $45.00, while the stock opened at $34.63.

Company Performance Metrics: Ceva has a market cap of $749.4M, a P/E ratio of -223.38, and an analyst consensus of Moderate Buy with a price target consensus of $40.50.

Conference Call Announcement: Ceva Inc. will hold a conference call on February 13, 2025, at 8:30 AM ET to discuss its Q4 2024 earnings results.

Access Information: The live webcast can be accessed via their website, and listeners can join by phone using specific dial-in numbers and access codes provided for both US and international participants.

AppLovin Corporation Financial Results: AppLovin's shares surged 28.9% in pre-market trading after reporting fourth-quarter revenue of $1.37 billion, exceeding analyst expectations, and providing first-quarter revenue guidance above estimates.

Stock Movements: Several stocks experienced significant pre-market trading movements, with Phoenix Motor Inc gaining 81.2% and Aspen Aerogels Inc dropping 30.6% following their respective financial announcements.

Financial Performance: Ceva, Inc. reported a 21% year-over-year increase in Q4 2024 revenue to $29.2 million and a full-year revenue of $106.9 million, up 10%. The company also achieved record shipments of 2 billion Ceva-powered devices in 2024.

Licensing and Growth: The company secured significant licensing agreements and experienced strong royalty revenue growth, with 43 licensing deals concluded in 2024, contributing to a diverse customer base across multiple industries.

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Partnership Announcement: Ceva, Inc. has partnered with ListenAI Technology to enhance its Edge AI processors by licensing the Ceva-Waves Wi-Fi 6 IP, aiming to improve connectivity and performance in smart devices across various applications.

Market Demand Response: The collaboration addresses the increasing demand for smarter, connected devices, enabling ListenAI to deliver advanced AI-driven features and reliable wireless solutions for applications like autonomous vehicles and smart homes.

New Wi-Fi 6+BT Combo Chip: Ceva, Inc. has partnered with WUQI Microelectronics to launch the WQ9201 combo chip, designed for consumer electronics like smartphones and tablets, featuring advanced Wi-Fi 6 technology that ensures high throughput and low power consumption.

Industry Recognition: The WQ9201 chip has received the 2024 "China Core" Excellent Technology Innovation Product Award, highlighting its innovative design and performance in supporting demanding HD media streaming in smart home devices.

New Board Appointment: Ceva, Inc. has appointed Amir Faintuch, an experienced technology executive, to its Board of Directors as an independent director and member of the Strategic Committee, expanding the board to eight members.

Company Overview: Ceva specializes in silicon and software IP for Smart Edge devices, focusing on wireless communications and Edge AI technologies, and aims to deliver innovative solutions for a more interconnected world.

Earnings Announcement: Ceva, Inc. will announce its fourth quarter and full year 2024 results on February 13, 2025, followed by a conference call at 8:30 a.m. Eastern Time to discuss the performance.

Company Overview: Ceva specializes in silicon and software IP for Smart Edge devices, focusing on wireless communications, sensing, and Edge AI technologies, with a commitment to sustainability and social responsibility.

Bird Flu Vaccine Stockpile: The U.S. Department of Agriculture plans to rebuild a stockpile of bird flu vaccines for poultry due to a severe outbreak that has killed over 130 million birds since early 2022, leading to record-high egg prices and the first human death linked to the virus.

Economic Impact and Testing: Poultry and turkey farm groups are advocating for vaccine deployment to mitigate economic losses from culling flocks, while the USDA is conducting testing in dairy herds across 28 states, reporting new infections in California and Texas.

Collaboration Announcement: Ceva, Inc. has partnered with Oritek Semiconductor to integrate its SensPro Vision AI DSP into Oritek's Longquan 560 series of Advanced Driver Assistance Systems (ADAS) chipsets, enhancing capabilities for electric vehicles (EVs) in the rapidly growing market.

Market Context: The global EV market is expanding significantly, particularly in China, which accounts for over 50% of sales; by 2027, battery-powered electric vehicles are projected to make up 30% of global vehicle sales, highlighting the importance of innovative ADAS solutions like those from Oritek and Ceva.