Ambarella price target lowered to $95 from $100 at Susquehanna

Susquehanna lowered the firm’s price target on Ambarella (AMBA) to $95 from $100 and keeps a Positive rating on the shares as part of a Q4 preview for the semiconductor group. The firm sees potential upside in data center, PC, and mobile, but says a broad-based recovery “remains choppy” on uncertain demand and uneven inventory progress. It sees elevated expectations for broad-based businesses into Q1, saying these risks will likely overshadow any modest upside in Q4.