Roth Capital on Ambarella (AMBA): 'We believe that it is likely the company will see additional auto OEM/Tier-1 announcements'

Roth Capital analyst Suji Desilva reiterated a Buy rating and $110.00 price target on Ambarella (NASDAQ: AMBA).

The analyst comments "We believe the announcement by a major automotive Tier-1 of use of AMBA’s leading edge CV3 AI domain controller SOC in a planned ADAS platform represents a significant milestone for the company. We believe this win provides evidence of AMBA’s improving competitive position and high volume automotive opportunity. We believe that it is likely the company will see additional auto OEM/Tier-1 announcements in the near future. We maintain our Buy rating."

For an analyst ratings summary and ratings history on Ambarella click here. For more ratings news on Ambarella click here.

Shares of Ambarella closed at $66.84 yesterday.

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