Tag Archives: gpro

Ambarella Stock Looking For Support At 50-Day Line

Shares of Ambarella (AMBA) are looking for support at the 50-day line. It was a seesaw day for the chipmaker’s stock on Thursday, but it ultimately finished up a fraction, above that key resistance level. Ambarella chips are in GoPro (GPRO) action cameras. GoPro shares were up on the stock market today, but are still trading near their lowest level in five months. Watch this video for chart analysis of Ambarella and GoPro. Follow Alissa Williams

Ambarella more than just a GoPro chip supplier

Ambarella (AMBA) is often mentioned in the same breath as GoPro because it makes image processing chips for GoPro’s popular Hero action cameras. But Ambarella is much more than just a GoPro chip supplier. Ambarella gets an estimated 35% to 40% of its revenue from GoPro (GPRO), the leading maker of wearable sports cameras, FBN Securities analyst Shebly Seyrafi said in a research report Tuesday. But it gets a similar share of sales from makers of of Internet protocol security cameras, including Ubiquiti Networks (UBNT), he said. IP security cameras are used for surveillance and are gradually replacing analog CCTV (closed-circuit television) devices, Seyrafi said. Ambarella is a good play on strong growth in GoPro sales and in IP security cameras, Seyrafi said. He initiated coverage of Ambarella stock with an outperform rating and price target of 70. Ambarella stock rose 1.2% to 56.25 on Tuesday, while GoPro stock has…

How low can GoPro go? Stock continues to tank

GoPro (GPRO) cameras are a hot consumer electronics product now. But the same can’t be said for its stock. GoPro shares have fallen more than 50% since peaking at 98.47 on Oct. 7. The once-hot IPO is now trading at its lowest point in more than five months. In afternoon trading Monday, GoPro stock was down over 5% to below 45. GoPro (GPRO) stock has fallen hard for two straight days since it guided to lower-than-expected earnings and gross profit margin for the current quarter. Investors also were stunned by the sudden resignation of Chief Operating Officer Nina Richardson. Plus, Wall Street is worried about the impact of the lockup expiration on IPO shares coming on Feb. 17. About 76 million shares will be allowed to hit the market as insiders get an opportunity to sell their stock. Those shares represent 59% of the company’s 127 million shares…