Ceva price target lowered to $33 from $40 at Oppenheimer

Oppenheimer analyst Martin Yang lowered the firm’s price target on Ceva (CEVA) to $33 from $40 and keeps an Outperform rating on the shares. The firm notes Ceva’s Q1 2025 revenue of $24.2M missed guidance low-end of $25.5M and consensus estimate of $26.6M. The weakness was attributed to lower handset shipment and a slower ramp at an industrial customer.