* Q1 rev $15.1 million, versus I/B/E/S view $13.9 million
* Q1 adjusted EPS $0.23 vs $0.20 forecast
* Expects 2011 revenue of $55.6-$57.6 million (Adds detail, outlook, CEO quotes)
TEL AVIV, April 27 (Reuters) - Israeli mobile chip company Ceva raised its 2011 forecast after customers such as Broadcom, Infineon and Spreadtrum grew their market share, leading to a doubling of first quarter net profit.
Ceva said on Wednesday it now expects 2011 revenue to rise 24-28 percent and earnings per share (EPS) excluding exceptionals to jump 36-46 percent as it benefits from the success of its clients in the handset and tablet markets.
Companies such as Infineon, Broadcom, Spreadtrum and ST Ericsson license Ceva's technology to build chips known as digital signal processors (DSP).
"Our rapid market share expansion in cellular baseband for both handsets and non-handsets continues, with more than 210 million Ceva-powered wireless chipsets shipped during the quarter," Chief Executive Gideon Wertheizer said.
He noted Ceva gained customers in the wireless infrastructure and smart grid markets, continuing the company's expansion beyond handsets.
Ceva's 41 percent market share in the global handset and tablet market places it ahead of Qualcomm, Texas Instruments and Mediatek.
Diluted EPS excluding one-time items in the first quarter reached 23 cents, up from 12 cents a year earlier. Revenue jumped 42 percent to a record $15.1 million.
Ceva was expected to earn 20 cents a share excluding items on revenue of $13.9 million, according to Thomson Reuters I/B/E/S.
Ceva expects 2011 revenue of $55.6-$57.6 million, up from a previous estimate of $53.1-$55.1 million, and EPS excluding exceptionals of 76-82 cents, up from a forecast of 72-76 cents.
For the second quarter it forecast revenue of $12.4-$14.4 million and EPS excluding items of 15-19 cents. (Reporting by Tova Cohen; Editing by Jon Loades-Carter)