Oppenheimer Maintains an 'Outperform' on CEVA Inc. (CEVA); Q3 Will Be The Bottom
Tweet
Share
E-mailGet Alerts CEVA Hot Sheet
Price: $18.66 -2.61%
Rating Summary:
13 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
13 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Growth isn't weak enough to truly undercut inflation pressures - BMO
- Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading
- Parke Bancorp (PKBK) Reports Q1 EPS of $0.51
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
