Ceva downgraded to Neutral from Buy at Roth MKM

Roth MKM analyst Suji Desilva downgraded Ceva to Neutral from Buy with a price target of $20, down from $30, after the company reported Q2 revenue and EPS “well below” consensus. The firm, which sees increased near-term licensing uncertainty, expects shares to remain relatively rangebound in the near-term, the analyst tells investors.