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Why Ambarella Stock Jumped Today

TheMotleyFool

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Shares of Ambarella (NASDAQ: AMBA) were climbing Tuesday after an analyst boosted his price target for the semiconductor company. As of 1:28 p.m. ET, the stock was up by 13.7%.

Stifel analyst Tore Svanberg raised his price target on Ambarella's stock from $200 to $215 and kept his buy rating on it. Svanberg believes that Intel's recent announcement that it's spinning off its advanced driver assistance system (ADAS) unit, Mobileye, as a public company, is good news for Ambarella's automotive segment.

Image source: Getty Images.

Source Fool.com

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