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


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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Posted In: Analyst ColorPrice TargetAnalyst RatingsOppenheimer