Analysts have been eager to weigh in on the Consumer Goods sector with new ratings on Ceva Inc (CEVA) and IEC Electronics (IEC).
Ceva Inc (CEVA)
Northland Securities analyst Gus Richard maintained a Hold rating on Ceva Inc today and set a price target of $28. The company’s shares opened today at $30, close to its 52-week high of $31.50.
Richard noted:
“We are modeling Hillcrest to be neutral to earnings this year and accretive next. INTC’s sale of its modem group is expect to close in Q4, we are uncertain how this transaction will ultimately impact CEVA that and the fact it is trading at 43x CY20 estimates keeps us on the sidelines.”
According to TipRanks.com, Richard is a 5-star analyst with an average return of 21.1% and a 63.1% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, SolarEdge Technologies, and Akoustis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ceva Inc with a $32.50 average price target.
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IEC Electronics (IEC)
In a report released yesterday, Nehal Chokshi from Maxim Group reiterated a Buy rating on IEC Electronics, with a price target of $10. The company’s shares opened today at $6.70.
Chokshi observed:
“Revenue growth y/y increased for the 7 th straight quarter plus materially expanding GM leads to strong bottom line results relative to our estimates. $100M in bookings, $72M in short-term bookings impresses; modestly raising estimates on strong results. Reiterating Buy rating & 12-month price target of $10.”
According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 4.3% and a 49.5% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IEC Electronics with a $9.50 average price target.
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