In a report released today, Martin Yang from Oppenheimer maintained a Buy rating on Ceva (CEVA – Research Report), with a price target of $29.00. The company’s shares closed yesterday at $20.25.
Yang covers the Technology sector, focusing on stocks such as Universal Display, Unity Software, and AppLovin. According to TipRanks, Yang has an average return of -0.5% and a 40.56% success rate on recommended stocks.
Currently, the analyst consensus on Ceva is a Strong Buy with an average price target of $28.40, implying a 40.25% upside from current levels. In a report released today, Barclays also maintained a Buy rating on the stock with a $29.00 price target.
Based on Ceva’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $24.07 million and a GAAP net loss of $4.96 million. In comparison, last year the company earned a revenue of $30.05 million and had a GAAP net loss of $22.3 million
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Ceva (CEVA) Company Description:
CEVA, Inc. engages in the licensing of signal processing platforms and artificial intelligence processors to chip manufacturers. It operates through the following geographical segments: United States, Europe and Middle East, and Asia Pacific. Its portfolio include platforms for 5G baseband processing for handsets and radio access network; offerings for cellular internet of things; front-end voice and speech recognition software and algorithms with digital signal processing for voice enabled devices and AI assistants; imaging and computer vision for any camera-enabled device; and a self-contained AI processors. The company was founded on November 22, 1999 and is headquartered in Mountain View, CA.
