Sterne Agee Raising Estimates and Price Target On CEVA

According to Sterne Agee, CEVA (NASDAQ: CEVA) is expected to report its quarter on April-27th before market open.

Sterne Agee reported that current C1Q11(Mar) consensus is for $13.8M/$0.20 versus guidance of $13.3-14.3M. “Raising our C1Q11 EPS higher, as we had higher Operating expenses modeled. Our EPS goes up substantially and closer to consensus earnings power. Nonetheless we continue to like CEVA as it continues to execute with market share trending up to 36% in the DSP baseband handset market from <10% in 2007."

CEVA closed yesterday at $29.96.