Needham Raises PT on Ambarella Stock From $90 to $100, Keeps Buy Rating

Ambarella Inc. (NASDAQ:AMBA) is one of the 12 Best Semiconductor Equipment Stocks to Buy Right Now. On August 29, Needham raised the price target on Ambarella Inc. (NASDAQ:AMBA) stock from $90 to $100, keeping its Buy rating.

Needham analyst Quinn Bolton increased the price target on AMBA following strong Q2 FY2026 results. The company posted $95.51 million, exceeding the estimates by $5.51 million and up 49.9% from a year ago. Bolton noted that Ambarella’s solid Q2 results indicate its two new design wins that showcase the diversity of its IoT segment. The company’s IoT business continues to expand outside of security cameras and is expected to be the key growth driver until a major automotive design win is approved.

Ambarella continues to experience strong demand for its 5 nm AISOCs, driving higher average selling prices. Bolton remains bullish on AMBA as the company has increased its FY2026 revenue growth outlook to a range $31 to 35%, or almost $379 million at mid-point, indicating record FY total revenue.

Ambarella Inc. (NASDAQ:AMBA) produces semiconductor solutions that enable AI processing, advanced image signal processing, and HD and ultra-HD compression.

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Disclosure: None. This article is originally published at Insider Monkey.