Ambiq Micro price target lowered to $40 from $45 at Stifel

Stifel analyst Tore Svanberg lowered the firm’s price target on Ambiq Micro (AMBQ) to $40 from $45 and keeps a Buy rating on the shares. The firm is trimming its price target reflecting lower comps and recent volatility in semiconductor valuations, the analyst tells investors following the company’s Q3 report.