In a report released today, Gus Richard from Northland Securities maintained a Buy rating on Ceva (CEVA), with a price target of $51.00. The company’s shares closed last Monday at $41.42.
According to TipRanks.com, Richard is a top 100 analyst with an average return of 32.3% and a 74.8% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Power Integrations, and Himax Technologies.
Currently, the analyst consensus on Ceva is a Moderate Buy with an average price target of $46.50.
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Based on Ceva’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $24.96 million and GAAP net loss of $739K. In comparison, last year the company earned revenue of $23.47 million and had a net profit of $775K.
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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. 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.
