Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price30.44 USD
Fair value25.86
Ethical score70.0/100
Our investment reviews on this name
2026-08-24Read Distribution30.44+0.0% to today
2026-07-02Read Markup46.03-33.9% to today
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
CEVA, Inc. holds its Markdown at $30.44. Consolidating, no directional conviction, held for 1 days.
As held on the ledger · 2026-08-12
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 1 days
Price at the screen
$30.44
Valuation
N/A trailing · 38.25 forward price to earnings
Values screen
FAIL· score 70.0
Beta
2.01
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
4.15%
Below 33%
Interest-bearing debt is just 4.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.01%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
23.17%
Below 49%
Money owed to the company is 23.2% of assets, under the 49% limit.
Pass
Revenue purity
5.70%
Below 5%
5.7% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-08-12 screen. The gold marker is the market price at the same screen. The price runs 15.0% above the base estimate.
Third-party analyst targets: 8 covering, consensus Buy. The average target sits +48% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-08-12 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Silicon IP licensing in a brutal cycle
Every smartphone or connected device that ships carries someone else's chip designs inside it. CEVA licenses that silicon IP to chipmakers, yet the business is posting a negative 10% profit margin and negative 4% return on equity while revenue grows just 12%. At a forward multiple of 46 times earnings and a share price well above our fair value, the numbers do not support ownership.
We pass because this remains a classic cyclical semiconductor play. Peak earnings often coincide with the lowest multiples, yet here the multiple is stretched while margins are negative. Analyst price targets sit higher, but those forecasts ignore how quickly demand for wireless and edge chips can collapse when handset or auto cycles turn.
Currency swings, customer concentration and the simple fact that the company is still losing money add further downside. Ethical screen clears, yet the valuation and industry timing do not. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CEVA trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 19.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it none, with a mean price target of $42.
2026-07-24Markup$37.97-17.5%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 17.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it none, with a mean price target of $42.
2026-07-18Markup$46.03+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it none, with a mean price target of $42.
2026-07-03Markup$46.03+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$46.03Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
