Cantor Fitzgerald Starts CEVA Inc. (CEVA) at Buy; DSPs to the Core
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Price: $16.20 -1.1%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CEVA Now!
Cantor Fitzgerald initiates coverage on CEVA Inc. (NASDAQ: CEVA) with a Buy. PT $40.00.
Cantor analyst says, "CEVA's DSP cores are designed into most major handset OEM platforms, via its licensees who develop handset SoCs (system-on-a-chip semiconductor). Approximately 81% of revenues are generated from mobile SoCs, while the company's major mobile customers (Broadcom (Nasdaq; BRCM), Spreadtrum (Nasdaq: SPRD), Intel (Nasdaq: INTC), and ST Ericsson (Nasdaq: ERIC)) account for about two-thirds of overall revenues. CEVA is a major beneficiary of four secular technology themes: the increased outsourcing of non-differentiating R&D, the monetization of silicon intellectual property (SIP), the proliferation of 4G and handheld computing (smartphones and tablets), and the ramp of ultra-low-cost (ULC) handsets in emerging markets."
"CEVA is trading at discounts of ~40% to ARM and Imagination, both of whom are CEVA's most appropriate comparables, in our opinion. Thus, in light of CEVA's compelling secular growth prospects, and what we view as an above-average likelihood of upward revisions over the next few years, we would be buyers at current levels."
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 $28.14 yesterday, with a 52 week range of $19.89-$35.60.
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Cantor analyst says, "CEVA's DSP cores are designed into most major handset OEM platforms, via its licensees who develop handset SoCs (system-on-a-chip semiconductor). Approximately 81% of revenues are generated from mobile SoCs, while the company's major mobile customers (Broadcom (Nasdaq; BRCM), Spreadtrum (Nasdaq: SPRD), Intel (Nasdaq: INTC), and ST Ericsson (Nasdaq: ERIC)) account for about two-thirds of overall revenues. CEVA is a major beneficiary of four secular technology themes: the increased outsourcing of non-differentiating R&D, the monetization of silicon intellectual property (SIP), the proliferation of 4G and handheld computing (smartphones and tablets), and the ramp of ultra-low-cost (ULC) handsets in emerging markets."
"CEVA is trading at discounts of ~40% to ARM and Imagination, both of whom are CEVA's most appropriate comparables, in our opinion. Thus, in light of CEVA's compelling secular growth prospects, and what we view as an above-average likelihood of upward revisions over the next few years, we would be buyers at current levels."
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 $28.14 yesterday, with a 52 week range of $19.89-$35.60.
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