Ambiq Micro price target raised to $72 from $44 at Northland

Northland raised the firm’s price target on Ambiq Micro (AMBQ) to $72 from $44 and keeps an Outperform rating on the shares after the company’s EPS beat consensus, driven by revenue upside. The company is seeing strong demand for its low-power products across the wearable space and other end markets, notes the analyst, who believes AI-enabled wearables are “in the first inning of growth.”