Ceva initiated with a Buy at Stifel

Stifel initiated coverage of Ceva (CEVA) with a Buy rating and $30 price target While cognizant of potential near-term headwinds, including mobile handset demand trends and lack of visibility into Apple’s (AAPL) in-house modem efforts, the firm believes Ceva is poised to leverage its category leadership in wireless connectivity IP to power-efficient on-device sensing and inference applications.