Ceva price target lowered to $30 from $40 at Roth Capital

Roth Capital analyst Suji Desilva lowered the firm’s price target on Ceva (CEVA) to $30 from $40 and keeps a Buy rating on the shares following Q1 results. The firm reduced its CY25 revenue growth expectation below prior guidance with relatively flattish near-term overall revenue. On a secular basis, Roth continues to believe Ceva is benefitting from increasing secular interest in edge AI and advanced connectivity platforms. The firm added that the decreased price target reflects lower market valuations.