Market Overview

UPDATE: Oppenheimer Lowers PT on CEVA on Headwinds, Bumpy Transitions

Related CEVA
Silver Spring Networks Adopts CEVA Technology for Internet-of-Things Communications Platform
Worst Performing Industries For May 4, 2015
Why CEVA Inc (CEVA) Could Be Positioned for a Surge? (Zacks)

In a report published Friday, Oppenheimer reiterated its Outperform rating on CEVA (NASDAQ: CEVA), but lowered its price target from $25.00 to $18.00.

Oppenheimer noted, “After reviewing our investment thesis, we reiterate our Outperform rating but lower our price target to $18 from $25. We see the stock pricing in a fairly negative bear case and our lowered estimates reflect several headwinds: 1) bumpy transition from 2G to 3G (trend reversed in this quarter); 2) weaker than expected 1Q13 (2nd year in a row, implying a shift in seasonality); and 3) longer lead times with licensing revenues. However, we believe the worst has been priced in. With $6 cash per share and primary customers building momentum in 3G smartphones, we are cautiously optimistic.”

CEVA closed on Thursday at $14.98.

Latest Ratings for CEVA

May 2015BarclaysMaintainsOverweight
May 2015Chardan CapitalUpgradesNeutralBuy
May 2015Topeka CapitalMaintainsBuy

View More Analyst Ratings for CEVA
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Price Target Analyst Ratings


Related Articles (CEVA)

View Comments and Join the Discussion!

Get Benzinga's Newsletters