MOUNTAIN VIEW, Calif.,
May 21, 2018 /PRNewswire/
-- CEVA, Inc. (NASDAQ: CEVA), the leading licensor of signal
processing platforms and artificial intelligence processors for
smarter, connected devices, announced that its Board of
Directors authorized the expansion of the company's share
repurchase program with an additional 700,000 shares of common
stock available for repurchase. As of March
31, 2018, CEVA had approximately 270,000 shares of common
stock available for repurchase under the existing plan, bringing
the aggregate to approximately one million shares available for
repurchase.
Gideon Wertheizer, CEO of CEVA, stated: "The Board's decision to
expand the stock repurchase program reflects their belief in the
long-term strategy and growth potential of the company. With our
unique portfolio of integrated solutions, including 5G, artificial
intelligence, computer vision and sound, we possess many of the key
technologies that are redefining every major industry today as we
move towards an increasingly smarter, connected world."
Under the share repurchase program, up to one million 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.
CEVA is the leading licensor of signal processing platforms and
artificial intelligence processors for a smarter, connected world.
We partner with semiconductor companies and OEMs worldwide to
create power-efficient, intelligent and connected devices for a
range of end markets, including mobile, consumer, automotive,
industrial and IoT. Our ultra-low-power IPs for vision, audio,
communications and connectivity include comprehensive DSP-based
platforms for LTE/LTE-A/5G baseband processing in handsets,
infrastructure and machine-to-machine devices, advanced imaging and
computer vision for any camera-enabled device, audio/voice/speech
and ultra-low power always-on/sensing applications for multiple IoT
markets. For artificial intelligence, we offer a family of AI
processors capable of handling the complete gamut of neural network
workloads, on-device. For connectivity, we offer the industry's
most widely adopted IPs for Bluetooth (low energy and dual mode)
and Wi-Fi (802.11 a/b/g/n/ac/ax up to 4x4). Visit us at
www.ceva-dsp.com and follow us on Twitter, YouTube, Facebook and
LinkedIn.
Forward Looking Statement
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. Wertheizer's statements about optimism in
CEVA's long-term strategy and growth potential and CEVA possessing
many of the key technologies needed for an increasingly smarter,
connected world. The risks, uncertainties and assumptions include:
the ability of the CEVA DSP cores and other technologies to
continue to be strong growth drivers for us; our success in
penetrating new markets, including in non-baseband markets, and
maintaining our market position in existing markets; our ability to
diversify the company's licensing customers and royalty streams,
the ability of products incorporating our technologies to achieve
market acceptance, the speed and extent of the expansion of the 4G,
5G and LTE networks, the maturation of the IoT and connectivity
markets, the effect of intense industry competition and
consolidation, global chip and smartphone market trends, the
possibility that markets for CEVA's technologies may not develop as
expected or that products incorporating our technologies do not
achieve market acceptance; our ability to timely and successfully
develop and introduce new technologies; and general market
conditions and other risks relating to our business, including, but
not limited to, those that are described from time to time in our
SEC filings. CEVA assumes no obligation to update any
forward-looking statements or information, which speak as of their
respective dates.
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SOURCE CEVA, Inc.