🔴 CEVA is trading 9% down today after sluggish royalty growth

CEVA is trading 9% down at $35.19 after investors focused on sluggish royalty growth and management changes despite a second-quarter earnings beat.

• Licensing and related revenue reached $18.2 million, up 21% year over year; royalty revenue rose only 1% to $10.8 million.
• The earnings release and conference call occurred before the August 10 market open, making results the clear catalyst.
• The broader market is only modestly weaker; early-session activity is elevated relative to the recent move, though live volume was unavailable.