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AMBA - Ambarella Inc News Story

$112.49 -0.8  -0.7%

Last Trade - 26/02/21

Sector
Technology
Size
Large Cap
Market Cap £2.84bn
Enterprise Value £2.54bn
Revenue £156.5m
Position in Universe 1568th / 6715

BUZZ-Ambarella Inc: Rises after strong Q3 results

Tue 24th November, 2020 10:40am
** Shares of video-processing chipmaker  AMBA.O  up 8.5% at
$72.05 in premarket trading  
    ** AMBA on Monday reported Q3 revenue of $56.1 mln, above
Street est of $55 mln, according to Refinitiv data  urn:newsml:reuters.com:*:nGNX2Ylk60
    ** Co also forecast Q4 revenue between $56 mln and $60 mln,
ahead of Refinitiv est. of $55.30 mln
    ** Brokerage Cowen and Co raises PT on stock to $81 from
$72; says co's underlying computer-vision IP remains undervalued
    ** Adds, AMBA has the potential to see a significant
share-driven inflection in its core security market both within
and outside China as Huawei's HiSilicon is forced out of the
market 
    ** Avg. rating of 16 analysts on stock is "buy" and median
PT is $70 - Refinitiv data
    ** Up to Monday's close, stock had risen ~10% so far this
year

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))
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