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Wunderlich Securities Maintains Estimates, $23 PT On CEVA

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Wunderlich Securities is maintaining its estimates and $23 PT on CEVA, Inc. (NASDAQ: CEVA).

“Expanded scope of licensee design-wins shipping to Nokia (NYSE: NOK), Samsung, and indigenous Asian manufacturers bode well for Ceva, Inc.'s (CEVA) 4Q10 and outlook,” Wunderlich Securities writes.

“Changes to future iPhone (NASDAQ: AAPL) products will dampen market share gains, but we expect them to be offset by Asian brands. Our Hold rating on CEVA shares reflects expectations for robust bottom-line growth combined with sensitivity to high multiples amongst peers, which we believe have significantly influenced the price for CEVA shares. No change to our estimates or price target.”

CEVA currently trades at $23.87.

 

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Posted-In: CEVA Wunderlich SecuritiesAnalyst Ratings

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