The Fabless Semiconductor group, ranked No. 14 out of the 197 industries IBD tracks, has some of the market’s top performers right now: Ambarella, Avago Technologies, Cavium and NXP Semiconductors. These chipmakers have hit new all-time highs within the last three sessions, and they’re currently trading near those highs. They also boast IBD’s highest possible Composite Rating: 99. GoPro (GPRO) chip supplier Ambarella (AMBA) is proving that it can
Ambarella (AMBA) hit a record high and received several price target increases Wednesday after the chipmaker’s Q4 earnings and Q1 outlook beat expectations, driven by strength across camera markets and new customer Xiaomi. The Santa Clara, Calif.-based chipmaker, which provides video processor chips to camera makers such as GoPro (GPRO) for its Hero action cameras, after the close Tuesday reported Q4 earnings per shareof 68 cents, up 161.5% from
Ambarella’s (AMBA) impressive quarterly earnings may offer a buying opportunity for stock investors Wednesday. The video chipmaker closed the regular session Tuesday just 25 cents below a buy point. Ambarella is a supplier to GoPro (GPRO), whose shares have yet to shake their five-month slump. Watch this video for crucial details about the buying opportunity for highly rated Ambarella. Follow Alissa Williams on Twitter: @IBD_AWilliams.