Northland analyst Gus Richard lowered the firm’s price target on Ceva to $30 from $35 and keeps an Outperform rating on the shares. Ceva missed Q2 expectations for non-GAAP earnings and licensing revenue, notes the analyst, who says royalty recovery is slowing over the next two quarters due to weak end demand.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CEVA: