Ambarella (AMBA) : Traders are bullish on Ambarella (AMBA) as it has outperformed the S&P 500 by a wide margin of 15.54% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.47%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.44% in the last 1 week, and is up 15.99% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Ambarella, Inc. is up 68.2% in the last 3-month period. Year-to-Date the stock performance stands at 16.63%. The stock has recorded a 20-day Moving Average of 8.14% and the 50-Day Moving Average is 16.74%.
Ambarella (NASDAQ:AMBA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $63.64 and $63.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $66.03. The buying momentum continued till the end and the stock did not give up its gains. It closed at $65.01, notching a gain of 2.15% for the day. The total traded volume was 1,158,991 . The stock had closed at $63.64 on the previous day.
Also, Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on Ambarella (NASDAQ:AMBA). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Deutsche Bank raises the price target from $45 per share to $47 per share. The rating by the firm was issued on June 3, 2016.
Ambarella, Inc. is a developer of semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Companys system-on-a-chip (SoC) designs HD video processing, image processing, audio processing and system functions onto a single chip, delivering video and image. In the camera market, its platform enables the creation of high-quality video content in wearable sports cameras, automotive aftermarket cameras, professional and consumer Internet Protocol (IP), security cameras, telepresence cameras and unmanned aerial vehicles (UAVs). In the infrastructure market, the Companys solutions manage IP video traffic, broadcast encoding and transcoding and IP video delivery applications. The Company sells its solutions to original design manufacturers (ODMs), and original equipment manufacturers (OEMs).