UBS lowered the firm’s price target on Ambiq Micro (AMBQ) to $32 from $40 and keeps a Neutral rating on the shares. Third quarter results are expected to meet or slightly exceed Street estimates, supported by steady wearable demand and early diversification into industrial, healthcare, and smart-home markets, the analyst tells investors in a research note. Margins should benefit from a shift toward Apollo 4/5 products, with Q4 guidance likely around $15M on typical consumer seasonality. Key focus areas include progress on new wearable programs, Apollo 6 development, and continued product mix transition, UBS says.
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