Roth Capital Believes CEVA Won’t Stop HereBy Ryan Adsit
Roth Capital analyst Sujeeva De Silva reiterated a Buy rating on Ceva (NASDAQ: CEVA) yesterday and set a price target of $40. The company’s shares opened today at $35.10, close to its 52-week high of $36.81.
De Silva noted:
“We hosted CEVA management at our annual ROTH conference this week. Investor interest was strong in both the smartphone share gain opportunity as well as newer complementary non-baseband applications. Near-term, we remain comfortable with our 2017 growth expectations as a baseline.”
According to TipRanks.com, Silva is a top 100 analyst with an average return of 23.3% and a 69.2% success rate. Silva covers the Technology sector, focusing on stocks such as Semiconductor Manufacturing, Adesto Technologies Corp, and Advanced Micro Devices.
Currently, the analyst consensus on Ceva is Strong Buy and the average price target is $39.50, representing a 12.5% upside.
In a report issued on March 5, Canaccord Genuity also reiterated a Buy rating on the stock with a $41 price target.
Ceva’s market cap is currently $746.7M and has a P/E ratio of 57.62. The company has a book value ratio of 3.5347.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Bruce Mann, a Director at CEVA sold 24,204 shares for a total of $770,897.
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CEVA, Inc. engages in the provision of signal processing internet protocol. Its products includes digital signal processing cores, connectivity platforms, and development environment. The company was founded on November 22, 1999 and is headquartered in Mountain View, CA.