Bethel Finance news:
Shares in the semiconductor company rose 10.6% on Nasdaq yesterday.
Shares in Israeli semiconductor designer Ceva Inc. (Nasdaq:CEVA); LSE:CVA) rose 10.6% on Nasdaq yesterday to $28.67, after Barclays Capital initiated coverage of the company with an "Overweight" rating.The share price gives CEVA a market cap of $654 million. Barclays price target is $32.
Barclays cites three reasons for its recommendation. The company's market share in the mobile handset market reached 36% in 2010, up from 12% in the first quarter of 2009, and Barclays expects it to reach 55% market share by the end of 2012. Secondly, Barclays sees CEVA as having an advantage in the new 4G market, because 4G is being designed into its products from the outset. The third factor Barclays cites is CEVA's "solid financials," with $131 million in cash and marketable securities and no debt.
As risks, Barclays mentions that "as a relatively small vendor CEVA is not immune to global spending trends in the mobile market and any industry slowdowns could affect near-term results." Barclays also says that "while we expect CEVA to ultimately dominate the baseband DSP market, the competition for next generation application processor DSPs could be more challenging."
CEVA, Inc. and its subsidiaries design and license silicon intellectual property (SIP) for the handsets, portable multimedia, and consumer electronics markets.
No comments:
Post a Comment