12 Small-Cap Semiconductor Stocks to Buy Now

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8. CEVA Inc. (NASDAQ:CEVA)

Market Capitalization: $775 million

Number of Hedge Funds: 17

CEVA Inc. (NASDAQ:CEVA) delivers innovative silicon and software IP solutions, enabling smart edge products to connect, sense, and infer data with exceptional reliability and efficiency. The company boasts the industry’s only comprehensive portfolio of communications and scalable Edge AI IP, empowering connectivity, sensing, and inference in cutting-edge smart edge products across various sectors, including consumer IoT, mobile, automotive, infrastructure, industrial, and personal computing. With over 17 billion smart edge products powered by its technology, CEVA Inc. (NASDAQ:CEVA) is used in diverse applications such as AI-enhanced smartwatches, IoT devices, wearables, autonomous vehicles, and 5G mobile networks.

On January 6, 2025, MediaTek (a Taiwanese semiconductor company) and CEVA Inc. (NASDAQ:CEVA) announced a new partnership to enhance mobile entertainment with CEVA’s RealSpace Elevate multi-channel spatial audio solution, integrated into MediaTek’s Dimensity 9400 flagship 5G smartphone chip. This collaboration, revealed at CES 2025, leverages Bluetooth LE Audio for immersive audio experiences. The RealSpace Elevate solution offers head tracking and a three-dimensional sound environment, enriching music, movies, games, and calls. This partnership aims to provide high-quality audio that matches 4K visual clarity, with improved performance, AI, and battery life.

In November 2024, CEVA Inc. (NASDAQ:CEVA) reported its Q3 2024 results, with revenue of $27.2 million, reflecting a 13% year-over-year (YoY) increase. Licensing and related revenue rose 12% YoY to $15.6 million, while royalty revenue increased 15% to reach $11.6 million. CEVA-powered device shipments hit 522 million units, driven by record shipments of Bluetooth, Wi-Fi, and cellular IoT devices. The company signed 10 new IP licensing agreements in the quarter, including deals for 5G-Advanced satellite communications and spatial audio. Management also authorized the expansion of the share repurchase program by an additional 700,000 shares, bringing the total shares available for repurchase to approximately 1 million.

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