Ceva, Inc. Announces Expansion of Existing Share Repurchase Program
Ceva has announced an expansion of its share repurchase program, adding 700,000 shares of common stock to the existing plan. Combined with approximately 356,000 shares available under the current program as of September 30, 2024, this brings the total to 1,056,000 shares available for repurchase. The company plans to execute these repurchases through open market or private transactions, subject to market conditions and trading regulations. CEO Amir Panush emphasized that this decision reflects management's confidence in Ceva's business performance and growth strategy, highlighting the company's strong balance sheet position.
Ceva ha annunciato un'espansione del suo programma di riacquisto di azioni, aggiungendo 700.000 azioni ordinarie al piano esistente. Combinato con circa 356.000 azioni disponibili nel programma attuale al 30 settembre 2024, questo porta il totale a 1.056.000 azioni disponibili per il riacquisto. La società prevede di effettuare questi riacquisti tramite operazioni di mercato aperto o transazioni private, soggette alle condizioni di mercato e alle regolamentazioni commerciali. Il CEO Amir Panush ha sottolineato che questa decisione riflette la fiducia della direzione nelle performance aziendali di Ceva e nella strategia di crescita, evidenziando la solida posizione patrimoniale della società.
Ceva ha anunciado una expansión de su programa de recompra de acciones, añadiendo 700,000 acciones ordinarias al plan existente. Combinado con aproximadamente 356,000 acciones disponibles bajo el programa actual a partir del 30 de septiembre de 2024, esto eleva el total a 1,056,000 acciones disponibles para recompra. La empresa planea ejecutar estas recompras a través de transacciones en el mercado abierto o privadas, sujetas a las condiciones del mercado y a las regulaciones comerciales. El CEO Amir Panush enfatizó que esta decisión refleja la confianza de la dirección en el desempeño empresarial y la estrategia de crecimiento de Ceva, destacando la sólida posición financiera de la compañía.
Ceva는 기존 계획에 700,000 주의 보통주를 추가하여 자사 주식 매입 프로그램을 확대한다고 발표했습니다. 2024년 9월 30일 현재 현재 프로그램 하에 약 356,000 주의 주식과 합쳐지면 총 1,056,000 주가 매입 가능하게 됩니다. 회사는 시장 상황과 거래 규정에 따라 공개 시장 또는 개인 거래를 통해 이러한 매입을 실행할 계획입니다. CEO Amir Panush는 이 결정이 Ceva의 사업 성과와 성장 전략에 대한 경영진의 확신을 반영하며, 회사의 강력한 재무 상태를 강조한다고 밝혔습니다.
Ceva a annoncé une extension de son programme de rachat d'actions, ajoutant 700 000 actions ordinaires au plan existant. Combiné avec environ 356 000 actions disponibles dans le programme actuel au 30 septembre 2024, cela porte le total à 1 056 000 actions disponibles pour rachat. L'entreprise prévoit d'effectuer ces rachats par le biais de transactions sur le marché ouvert ou privées, sous réserve des conditions du marché et des réglementations commerciales. Le PDG Amir Panush a souligné que cette décision reflète la confiance de la direction dans la performance commerciale et la stratégie de croissance de Ceva, mettant en avant la solide situation financière de la société.
Ceva hat eine Erweiterung seines Aktienrückkaufprogramms angekündigt und fügt 700.000 Stammaktien zum bestehenden Plan hinzu. In Kombination mit etwa 356.000 Aktien, die zum aktuellen Programm zum 30. September 2024 verfügbar sind, erhöht sich die Gesamtzahl auf 1.056.000 Aktien, die für den Rückkauf zur Verfügung stehen. Das Unternehmen plant, diese Rückkäufe durch offene Markttransaktionen oder private Transaktionen unter Berücksichtigung der Marktbedingungen und Handelsvorschriften durchzuführen. CEO Amir Panush betonte, dass diese Entscheidung das Vertrauen des Managements in die Unternehmensleistung und Wachstumsstrategie von Ceva widerspiegelt und hob die starke Bilanzposition des Unternehmens hervor.
- Board authorized additional 700,000 shares for repurchase
- Strong balance sheet position maintained
- Company has flexibility to pursue growth opportunities while returning capital to shareholders
- None.
Insights
The expansion of CEVA's share repurchase program by 700,000 shares represents a significant move, bringing the total available for repurchase to 1,056,000 shares. Given CEVA's current market cap of
Amir Panush, CEO of Ceva, commented: "The share repurchase program expansion reflects the management and Board of Director's confidence in the ongoing performance of Ceva's business and long-term strategy to drive profitable growth. Our balance sheet remains strong and ensures we are well positioned to pursue non-organic growth opportunities while also returning capital to our shareholders."
Under the share repurchase program, shares of the company's common stock may be repurchased from time to time pursuant to Rule 10(b)-18 of the Securities Exchange Act of 1934, as amended outside of periods when the Company's trading window is closed. Such repurchases may be made in the open market or through privately negotiated transactions depending on market conditions, share price, trading volume and other factors.
About Ceva, Inc.
At Ceva, we are passionate about bringing new levels of innovation to the smart edge. Our wireless communications, sensing and Edge AI technologies are at the heart of some of today's most advanced smart edge products. From wireless connectivity IPs (Bluetooth, Wi-Fi, UWB and 5G platform IP), to scalable Edge AI NPU IPs and sensor fusion solutions, we have the broadest portfolio of IP to connect, sense and infer data more reliably and efficiently. We deliver differentiated solutions that combine outstanding performance at ultra-low power within a very small silicon footprint. Our goal is simple – to deliver the silicon and software IP to enable a smarter, safer, and more interconnected world. This philosophy is in practice today, with Ceva powering more than 18 billion of the world's most innovative smart edge products from AI-infused smartwatches, IoT devices and wearables to autonomous vehicles and 5G mobile networks.
Our headquarters are in
Ceva is a sustainability- and environmentally-conscious company, adhering to our Code of Business Conduct and Ethics. As such, we emphasize and focus on environmental preservation, recycling, the welfare of our employees and privacy – which we promote on a corporate level. At Ceva, we are committed to social responsibility, values of preservation and consciousness towards these purposes.
Ceva: Powering the Smart Edge™
Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of Ceva to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include Mr. Panush's statements regarding management and the Board's confidence in the ongoing performance of Ceva's business and long-term strategy to drive profitable growth and belief that the strength of Ceva's balance sheet ensures Ceva is well positioned to pursue non-organic growth opportunities while returning capital to shareholders. The risks, uncertainties and assumptions that could cause differing Ceva results include: the effect of intense industry competition; the ability of Ceva's technologies and products incorporating Ceva's technologies to achieve market acceptance; Ceva's ability to meet changing needs of end-users and evolving market demands; the cyclical nature of and general economic conditions in the semiconductor industry; Ceva's ability to diversify its royalty streams and license revenues; Ceva's ability to continue to generate significant revenues from the handset baseband market and to penetrate new markets; instability and disruptions related to the ongoing
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SOURCE Ceva, Inc.
FAQ
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