Why Ambarella Stock Jumped Today
Shares of Ambarella (NASDAQ: AMBA) were climbing Tuesday after an analyst boosted his price target for the semiconductor company. As of 1:28 p.m. ET, the stock was up by 13.7%.
Stifel analyst Tore Svanberg raised his price target on Ambarella's stock from $200 to $215 and kept his buy rating on it. Svanberg believes that Intel's recent announcement that it's spinning off its advanced driver assistance system (ADAS) unit, Mobileye, as a public company, is good news for Ambarella's automotive segment.
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Source Fool.com
