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• JPMorgan Reverses Bearish Stance: JPMorgan upgraded Qualys from Underweight to Neutral, raising its price target to $139 from $87.
• Semiconductor Sector Rebound: The Philadelphia Semiconductor Index jumped roughly 3.8% as chip stocks rebounded following last week's selloff.
• Confirmed Nasdaq-100 Addition: SpaceX's addition to the Nasdaq-100 Index on July 7 is expected to trigger significant passive fund buying.
• Second Acquisition in Weeks: The Creative Engineers acquisition follows precision manufacturer ARMEC in June, signaling an accelerating internalization strategy.
• B. Riley Reiterates Buy at $32 Target: Analyst Harold Goetsch cited a compelling "catch-up" valuation, with shares trading at roughly 7.9x forward earnings versus an 18x peer average.
• $300 Million Buyback Mandate Approved: Shareholders overwhelmingly approved the repurchase mandate at the company's Annual General Meeting, signaling confidence in valuation.
• Evercore Upgrade to Outperform: Evercore upgraded FormFactor to Outperform with a $155 price target in early June, citing HBM4 testing leadership.
• Oppenheimer Initiates at Outperform: Oppenheimer initiated coverage with a bullish $140 price target, valuing Viasat's spectrum holdings alone at approximately $15 billion.
• Massive Revenue and EPS Beat: Revenue of $641.6 million more than doubled year-over-year, crushing the $557 million Street estimate, with adjusted EPS of $1.84 beating consensus by roughly 25%.
• Edge AI Now 80% of Business: Ambarella shipped over 42 million Edge AI SoCs across automotive, industrial, security, and robotics markets in fiscal 2026.
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