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Ambarella (AMBA) Stock Is the ‘Chart of the Day’
Ambarella (AMBA) stock is in the midst of what could be a meteoric rise, according to TheStreet’s Chris Versace and Bob Lang.
By Kaya Yurieff
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NEW YORK (TheStreet) -- Shares of Ambarella (AMBA) - Get Report are higher by 0.45% to $57.65 in early afternoon trading on Tuesday.
The Santa Clara, CA-based company develops low-power, HD and Ultra HD video compression and image processing semiconductors.
Early this month, the company posted higher-than-expected results for the 2017 fiscal first quarter.
TheStreet'sChris Versace and Bob Lang of Trifecta Stocks have identified Ambarella as the "Chart of the Day." Here is what Versace and Lang had to say about the stock:
Chip stocks have been on fire of late -- and count Ambarella among them. This stock made a bottom in February, tested it in mid-May and has not looked back.
Strikingly, the stock was pummeled so hard at the beginning of the year that Ambarella is only back to where it started the year. After posting robust earnings in June, this stock has done absolutely nothing wrong, and as we say, the best stocks rarely give you a chance to get in. There was a small window in late June, but that closed quickly.
A series of higher highs and higher lows has Ambarella poised to push for its December high around the high $60s, and then, perhaps, climb to its all-time highs. Relative strength is phenomenal.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AMBA