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Ambarella, Inc. (AMBA) develops semiconductor processing solutions for video that enable high-definition (HD) video capture, sharing, and display worldwide.
The companys system-on-a-chip designs integrated HD video processing, image processing, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
Its solutions enable the creation of video content for wearable sports cameras, automotive aftermarket cameras, Internet Protocol (IP) security cameras, and camcorders in the camera market; and manage IP video traffic, broadcast encoding, transcoding, and IP video delivery applications in the infrastructure market.
The company sells its solutions to original design manufacturers and original equipment manufacturers through its direct sales force and logistics providers.
Shares have formed a bullish "cup and handle" after the firm reported a strong quarterly report on June 6. For 26the first quarter Ambarella reported EPS of 25 cents a share, beating the estimate of 21 cents a share by 4 cents. The chipmaker reported revenue of $40.92 million for the quarter, an increase of 20.6% from the year-ago period. Analysts expected revenue of $40 million for the quarter. We expect higher share prices for this stock.
52-Week Trading Range: $13.16 - $36.49
Entry Point: $26.85
Stop Loss: $25.50
Target Price: $29.65
Taking profits on AMBA after it exceeded our target price. Closed at $29.60.
