Chardan Capital Markets Reiterates Buy on CEVA, Inc. (CEVA) Ahead of Galaxy Note 5 and S6 Edge+ Launch

Chardan Capital Markets reiterated a Buy rating and $21.00 price target on CEVA Inc. (NASDAQ: CEVA) ahead of Galaxy Note 5, and S6 Edge+ launch. The phones are expected to hit stores on Friday August 21st. It appears Samsung has chosen to go with its own Shannon 333 modem in the Galaxy Note 5 GSM version and use its Octa Core Exynos 5 in the Galaxy S6 Edge+. Analyst Jay Srivatsa sees this as a positive for CEVA which recieves royalties from Samsung for every unit shipped.

Srivatsa commented, "Galaxy Note 5 and Galaxy S6 Edge + are expected to hit stores on Friday this week on Aug. 21 and are already available for preorder through several carriers. Looking through the specifications of both these products, it appears to us that CEVA is likely the winner with Qualcomm (QCOM-NR) being a loser. It was widely expected that QCOM could likely gain back some of the losses at Samsung in these two products. However, it appears Samsung has chosen to go with its own Shannon 333 modem in the Galaxy Note 5 GSM version and use its Octa Core Exynos 5 in the Galaxy S6 Edge +, leaving QCOM with only the CDMA version for Verizon (VZ-NR) of the Galaxy Note 5. With view this as a positive for CEVA which receives royalties from Samsung for every unit shipped while QCOM using its own DSP is not a CEVA licensee."

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 $19.38 yesterday.

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