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CEVA (NASDAQ:CEVA) Earns “Buy” Rating from Canaccord Genuity – Fairfield Current
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CEVA (NASDAQ:CEVA) Earns “Buy” Rating from Canaccord Genuity – Fairfield Current

“We believe a significant growth driver in 2020 and beyond is the base-station chipset opportunities with three of the top five global OEMs having adopted CEVA’s XC12 platform. In addition, we believe Intel will maintain its 100% modem share in new iPhones through at least the new iPhones launching in fall 2020, and share gains by this CEVA customer should support royalty growth trends through 2020. With management continuing to execute on driving growth in cellular IoT, AI, sound, computer vision, Bluetooth and WiFi, CEVA continues to diversify its portfolio and expand its TAM. We reiterate our BUY rating as we believe the company has a strong and diversifying licensing base to drive steady long-term and high-margin royalty growth but decrease our estimates and price target from $41 to $35.”,” Canaccord Genuity’s analyst wrote.

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