Oppenheimer analyst Andrew Uerkwitz maintained a Hold rating on Ceva (CEVA) today. The company’s shares opened today at $28.59.
Uerkwitz wrote:
“CEVA reported F4Q18 revenues/non-GAAP EPS of $21.4M/$0.23 comparing to consensus of $22.1M/$0.26E and our $23.0M/$0.29E. Company guidance for 2019 sales of $79M is below consensus of $86M. Management’s initial outlook factors in caution for base station and mobile markets for 2019. 5G-related base station revenues are not likely to fully ramp this year due interoperability issues with handsets. For mobile baseband, it remains to be seen if 2H19 will see a market recovery where CEVA’s largest baseband customer can gain back share. Longer term, management remains confident over its licensing activities and royalty pipeline. We stay on the sidelines given substantial lack of visibility over the mobile baseband market.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 19.9% and a 58.9% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Turtle Beach Corp, Universal Display, and Electronic Arts.
Ceva has an analyst consensus of Moderate Buy, with a price target consensus of $30.
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Based on Ceva’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.54 million. In comparison, last year the company had a net profit of $3.16 million.
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CEVA, Inc. engages in the provision of signal processing internet protocol. It operates through the following geographical segments: United States, Europe and Middle East, and Asia Pacific. Its products include digital signal processing cores, connectivity platforms, and development environment.
