Needham & Company Still Sees Risk for Ambarella (AMBA) on Holiday Sell-Though; Affirms at 'Hold'
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company affirms Ambarella (Nasdaq: AMBA) with a Hold rating following Q2 results and outlook issued Thursday night.
The firm commented today,
Ambarella reported F2Q17 results that exceeded expectations, with continued strength in drones and home security cameras offsetting expected weakness in wearable cameras. Management's F3Q17 guidance came in better than expected reflecting a strong holiday build for GoPro's (Nasdaq: GPRO) new HERO 5 camera and home security cameras as well as a recovery in IP security cameras in China. Additionally, AMBA continues to secure an increasing number of design wins in the drone and home monitoring camera segments. Despite the positives, we see risk should sell-through of the strong holiday build prove weaker than expected.
AMBA is seeing traction from retail and service provider customers as well as an increased focus on integration with smart homes. In June, the company announced its support for Apple's new HomeKit camera and doorbell services with several AMBA-based products highlighted at WWDC. Other design wins include Comcast's new xCam indoor/outdoor home security camera, Xiaomi's MiJia home camera and Dahua's BM1 baby monitor camera, all powered by AMBA's S2LM SoC, the firm noted.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $92 at Needham & Company Following Solid 1Q Beat and Raise
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!