Ambarella (AMBA) on Watch Amid GoPro (GPRO) Restructuring, HERO5 Sales

November 30, 2016 7:24 AM EST

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Ambarella (Nasdaq: AMBA) shares are on watch this morning after GoPro Inc. (Nasdaq: GPRO) announced a company-wide restructuring.

GoPro said, The restructuring includes the closure of its entertainment division, facilities reductions, and the elimination of more than 200 full-time positions plus the cancelation of open positions for a reduction in force of approximately 15 percent.

Notably, GoPro also said HERO5 sales have been strong for holiday quarter 2016.

Shares of Ambarella are flat in early trading.

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