Ceva price target raised to $40 from $36 at Oppenheimer

Oppenheimer raised the firm’s price target on Ceva (CEVA) to $40 from $36 and keeps an Outperform rating on the shares. The firm notes Ceva reported stronger than expected Q4 results. Oppenheimer remains bullish on its secular trends in connectivity and edge devices, device growth, higher content per device, higher ASPs, and resulting operating leverage.