These 5 Stocks are Getting Hammered Today

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In this article, we discuss the 5 stocks getting hammered today. If you want to see some other stocks losing value on Wednesday, go directly to These 10 Stocks are Getting Hammered Today.

5. Ambarella, Inc. (NASDAQ:AMBA)

Number of Hedge Fund Holders: 27

Shares of Ambarella, Inc. (NASDAQ:AMBA) dropped to a nearly one-month low after Baird slashed its price target for the fabless semiconductor design company from $125 per share to $90 per share. Baird analyst Tristan Gerra thinks Ambarella would continue to face headwinds in the second half of the year.

The price-target cut came after Ambarella, Inc. (NASDAQ:AMBA) reported a drop in its fiscal second-quarter profit. The company reported adjusted earnings of 20 cents per share, down from 35 cents per share in the year-ago period. Revenue for the quarter increased 2 percent on a year-over-year basis to $80.88 million. Nevertheless, the results surpassed the consensus of 19 cents per share for earnings and $80.21 million for revenue.

For the current quarter, Ambarella, Inc. (NASDAQ:AMBA) guided for revenue in the range of $81 – $85 million and adjusted gross margin between 63 – 64 percent.

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