Ceva price target raised to $33 from $29 at Oppenheimer

Oppenheimer raised the firm’s price target on Ceva to $33 from $29 and keeps an Outperform rating on the shares. The firm notes Ceva reported stronger-than-expected Q2 results. Oppenheimer remains bullish on its long-term outlook driven by secular trends in connectivity and edge devices, device growth, higher content per device, higher ASPs, and resulting operating leverage.