Susquehanna analyst Christopher Rolland lowered the firm’s price target on Ambarella to $80 from $92 and keeps a Positive rating on the shares. The firm said they posted in-line 2Q results but significantly worse 3Q guidance as demand weakness and the inventory overhang broaden.
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Read More on AMBA:
- Ambarella (NASDAQ:AMBA) Earns Buy Ratings Despite Weak Q2 Results
- Ambarella (NASDAQ: AMBA) Slides as Q2 Results Disappoint
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