Wells Fargo lowered the firm’s price target on Ambarella to $85 from $90 and keeps an Overweight rating on the shares. While Ambarella continues to make progress in driving design wins for CV3 and CV72 with tier-one L2+ AD partners, the company’s customers also continue to bring down inv, as reflected in guide with China and IoT driving incremental weakness.
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Read More on AMBA:
- Ambarella (NASDAQ:AMBA) Earns Buy Ratings Despite Weak Q2 Results
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