Benchmark Reiterates a 'Buy' on CEVA Inc. (CEVA); NOK Issues Don't Help Near-Term, But Long-Term Investors Buy on Weakness

June 19, 2012 11:12 AM EDT
Get Alerts CEVA Hot Sheet
Price: $34.15 +1.04%

Rating Summary:
    12 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade CEVA Now!
Join SI Premium – FREE
Benchmark reiterates a 'Buy' on CEVA Inc. (NASDAQ: CEVA) price target of $30.00.

Analyst, Gary Mobley, said, "Aside from general softness in mobile device sales and Nokia’s (NYSE: NOK) share losses, CEVA’s long-term growth prospects look encouraging. Driven by a flurry of recent DSP core launches, CEVA’s overall license pipeline remains robust and should remain at the high end of the long-term guidance range ($4-$5 million/qtr)...we believe non-mobile-phone baseband applications such as Audio DSP, multimedia, small-cell base station and/or 802.11ac (WiFi) will add another layer of growth for the company."

"...With shares trading at only 12.0x FY12 EPS (net of cash), we would use recent weakness in the shares as a buying opportunity."

Although, Mobley does lower FY12 EPS estimate from $0.93 to $0.91 and revenues from $59.3 million to $58.8 million.

For an analyst ratings summary and ratings history on CEVA Inc. click here. For more ratings news on CEVA Inc. click here.

Shares of CEVA Inc. closed at $17.64 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Add Your Comment