Ambarella price target lowered to $60 from $62 at Deutsche Bank

Deutsche Bank analyst Ross Seymore lowered the firm’s price target on Ambarella to $60 from $62 and keeps a Hold rating on the shares. Despite another in-line quarter, Ambarella, like most companies within the semiconductor industry, remains exposed to present and inbound macro/industry specific headwinds as demonstrated by its softer sales guide for Q4 and disappointing forecast of a "sub-seasonal" sales decline in Q1, Seymore tells investors in a research note.