Oppenheimer Downgrades Ambarella (AMBA) to Perform

June 6, 2018 6:39 AM EDT
Get Alerts AMBA Hot Sheet
Price: $63.29 -3.32%

Rating Summary:
    17 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 0 | New: 0
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Oppenheimer downgraded Ambarella (NASDAQ: AMBA) from Outperform to Perform.

Analyst Andrew Uerkwitz comments "US-China trade tension is impacting its largest IP camera customers and adds uncertainly to near term. On the brighter side, IP camera and automotive segments kept their growth momentum and upward trend is likely to continue in FY19. Customer engagement and development of computer vision (CV) products remain on track. With dual pressure on sales and gross margin in the mid-term and few sign of recovery in wearable and drone markets, we believe it is more prudent to stay sidelined until we see substantial growth catalysts such as design win of CV22."

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 $49.39 yesterday.

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Andrew Uerkwitz