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    CEVA Inc (CEVA)

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    CEVA, Inc. is a global leader in licensing wireless connectivity and smart sensing technologies, as well as providing custom chip design services. The company enables its customers to develop power-efficient, intelligent, and connected devices by offering a wide range of intellectual property (IP) products and design expertise. CEVA's technologies are widely used in consumer IoT, mobile, automotive, industrial, and other markets, powering billions of devices worldwide.

    1. Connectivity Products - Offers wireless technologies such as 5G baseband platforms, Bluetooth, Wi-Fi, Ultra-Wideband (UWB), and NB-IoT for mobile broadband, IoT, and base station applications.
    2. Smart Sensing Products - Provides AI engines, sensor fusion processors, and embedded application software for computer vision, audio/voice recognition, motion sensing, and generative AI workloads.
    3. Custom Chip Design Services - Delivers Non-Recurring Engineering (NRE) services for integrated circuit design, combining CEVA's IP with expertise in RF, mixed-signal, and high-complexity digital design through its Intrinsix Corp. business.
    NamePositionStart DateShort Bio
    Amir PanushChief Executive OfficerJan 1, 2023Amir Panush has served as the Chief Executive Officer of CEVA since January 1, 2023. He joined CEVA from InvenSense, Inc., a TDK group company, where he was the Chief Executive Officer and General Manager of TDK Corporation’s MEMS Sensors Business Group. Prior to that, he held leadership roles at TDK, Qualcomm, Atheros Communications, Texas Instruments, and Comsys Mobile. Mr. Panush holds an MBA from Haas Business School, University of California at Berkeley, and a bachelor's degree in Computer Science, Cum Laude, from Technion Institute of Technology in Israel.
    Yaniv ArieliChief Financial OfficerMay 2005Yaniv Arieli has served as the Chief Financial Officer of CEVA since May 2005. Before this role, he was the President of U.S. Operations and Director of Investor Relations at DSP Group starting in August 2002, and prior to that, he held the positions of Vice President of Finance, Chief Financial Officer, and Secretary of DSP Group’s DSP Cores Licensing Division. Before joining DSP Group in 1997, Mr. Arieli worked as an account manager and certified public accountant at Kesselman & Kesselman, a member of PricewaterhouseCoopers. He is a CPA and holds a B.A. in Accounting and Economics from Haifa University in Israel and an M.B.A. from Newport University. Additionally, he is a member of the National Investor Relations Institute.
    Gweltaz ToquetChief Commercial OfficerJan 1, 2023Gweltaz Toquet has served as the Chief Commercial Officer (CCO) of CEVA since January 1, 2023. He has over 20 years of sales and management experience with the company, including more than 15 years as Vice President of Sales for Asia Pacific, based in Hong Kong. In this role, he led the development and management of sales and support functions across China, Japan, Taiwan, and Korea. Before joining CEVA in 2002, he held roles in sales, business development, product marketing, and business line management at Freehand DSP and Texas Instruments. Mr. Toquet holds a Master of Science in Engineering from Institut Supérieur d’Électronique de Paris (ISEP).
    Michael BoukayaExecutive Vice President and Chief Operating OfficerJan 1, 2023Michael Boukaya has served as Executive Vice President and Chief Operating Officer at CEVA since January 1, 2023, following a title change and promotion. He originally became Chief Operating Officer on April 4, 2019. Prior to this, he held roles such as Vice President and General Manager of the Wireless Business Unit (2014–2019) and VP and Chief Architect (2006–2014). Before joining CEVA, he worked at DSP Group in various engineering and R&D management positions. Mr. Boukaya holds a B.Sc. in Electronic Engineering from the Technion Technology Institute and is a graduate of the Executive Program at Stanford Graduate School of Business. He also holds several patents on DSP technology.
    1. Gross margins decreased to 87% this quarter due to customization work for key 5G advanced deals ; do you expect this trend to continue, and how will ongoing customization efforts impact your gross margins and profitability in the future?
    2. The number of licensing deals this quarter was 10, which appears lower than your typical quarterly run rate ; is this indicative of a slowdown in licensing activity, or were there specific factors influencing this drop?
    3. Given your strong cash position and recent increase in share repurchase authorization , can you provide more details on your M&A strategy and the types of companies or technologies you're targeting to enhance your growth?
    4. With increased customization demands from OEMs, particularly those needing more assistance than traditional semiconductor companies , how do you plan to scale your engineering resources without compromising gross margins or overstretching your R&D team?
    5. Wi-Fi shipments increased significantly to 47 million units, up 100% year-over-year ; considering the competitive landscape, what are the potential risks to sustaining this level of growth in Wi-Fi, and how are you planning to address them?
    Program DetailsProgram 1Program 2
    Approval DateAugust 2008 November 7, 2024
    End Date/DurationN/A N/A
    Total Additional Amount1,000,000 shares 700,000 shares
    Remaining Authorization0 shares 1,056,000 shares
    DetailsInitial program authorized up to 1,000,000 shares; subsequent approvals collectively added 7,800,000 shares. Remaining authorization increased after November 2024 approval.