Oppenheimer Maintains an 'Outperform' on CEVA Inc. (CEVA); Q3 Will Be The Bottom
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Price: $15.99 +0.06%
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CEVA Now!
Oppenheimer maintains an 'Outperform' on CEVA Inc. (NASDAQ: CEVA) price target of $25.00.
Analyst, Andrew Uerkwitz, said, "While the quarterly results beat consensus--adj. EPS was $0.19 vs. $0.17 and revenues, $13.6M vs $13.4M--3Q guidance was weak enough to lower full year...again. Macro headwinds slowing 2G to 3G adoption as well as ASP erosion on lower-end handsets are the causes. 2012 earnings are now expected to be $0.78 to $0.82 per share, or 18% down y/y based on mid-point of guidance range. We continue to believe the current bumps are just temporary and not indicative of larger underlying business issues. We see 3Q as the bottom and believe customer commentary indicates better times ahead." (FY12 EPS estimate lowered from $0.85 to $0.78 and FY13 from $1.14 to $0.84)
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 $15.54 yesterday, with a 52 week range of $14.60-$34.50.
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Analyst, Andrew Uerkwitz, said, "While the quarterly results beat consensus--adj. EPS was $0.19 vs. $0.17 and revenues, $13.6M vs $13.4M--3Q guidance was weak enough to lower full year...again. Macro headwinds slowing 2G to 3G adoption as well as ASP erosion on lower-end handsets are the causes. 2012 earnings are now expected to be $0.78 to $0.82 per share, or 18% down y/y based on mid-point of guidance range. We continue to believe the current bumps are just temporary and not indicative of larger underlying business issues. We see 3Q as the bottom and believe customer commentary indicates better times ahead." (FY12 EPS estimate lowered from $0.85 to $0.78 and FY13 from $1.14 to $0.84)
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 $15.54 yesterday, with a 52 week range of $14.60-$34.50.
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