Ceva price target lowered to $25 from $29 at Barclays

Barclays analyst Tavy Rosner lowered the firm’s price target on Ceva to $25 from $29 and keeps an Overweight rating on the shares. The company recorded a strong improvement in shipments but the main takeaway is the sale of the Intrinsix business, which has already improved margins and will allow management to focus on more profitable verticals, the analyst tells investors in a research note.