Northland Securities analyst Gus Richard maintained a Hold rating on Ceva (CEVA) today and set a price target of $24. The company’s shares opened today at $23.19.
Richard noted:
“We believe both Intel and non-Intel royalty saw a decline. While the Company maintained annual guidance, we believe it will be challenging to achieve without a substantial pickup in handset royalty. We trim our estimate moving forward and Maintain our MP rating and lower PT to $24 on a higher multiple off depressed earnings.”
According to TipRanks.com, Richard is a top 100 analyst with an average return of 25.7% and a 72.4% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Power Integrations, and PDF Solutions.
Currently, the analyst consensus on Ceva is a Moderate Buy with an average price target of $27.33.
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Based on Ceva’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $2.3 million. In comparison, last year the company had a GAAP net loss of $2.18 million.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock.
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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.
