Ceva price target raised to $35 from $30 at Roth Capital

Roth Capital raised the firm’s price target on Ceva (CEVA) to $35 from $30 and keeps a Buy rating on the shares. The company’s Q3 results topped estimates, and the firm is encouraged by broad end market royalty growth and robust licensing results, the analyst tells investors in a research note. The growing NeuPro AI IP licensing contribution bodes well for the secular growth opportunity, the firm added.