Benchmark Reiterates a 'Buy' on CEVA Inc. (CEVA); NOK Issues Don't Help Near-Term, But Long-Term Investors Buy on Weakness
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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!
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, with a 52 week range of $15.12-$34.50.
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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, with a 52 week range of $15.12-$34.50.
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