Morgan Stanley Maintains Overweight Rating for Ambarella: Here's What You Need To Know
Morgan Stanley has decided to maintain its Overweight rating of Ambarella (NASDAQ:AMBA) and lower its price target from $81.00 to $65.00.
Shares of Ambarella are trading down 0.6% over the last 24 hours, at $46.51 per share.
A move to $65.00 would account for a 39.75% increase from the current share price.
Ambarella Inc is a developer of semiconductor processing solutions for high-definition video capture, sharing, and display. The firm's solutions are sold to original design manufacturers and original equipment manufacturers to be designed for use in infrastructure broadcast encoders, wearable device cameras, automotive cameras, and security cameras. Ambarella's system-on-a-chip designs, based on its proprietary technology platform, are highly configurable to applications in various end markets. Geographical presence in Taiwan, Asia Pacific, Europe, North America and United States. The firm derives majority of revenue from Taiwan.
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