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March 26, 2015
12:34 EDTAMBAGoPro climbs with analysts getting positive after sell-off
The shares of action camera maker GoPro (GPRO) are rising after research firm Robert W. Baird upgraded the stock to Outperform from Neutral in a note to investors earlier today. The company's penetration of the active sports market is still in the early innings, the firm contended. WHAT'S NEW: GoPro sold 5.2M cameras last year, but there are hundreds of millions of action sports enthusiasts around the world, while everyday use of the company's cameras is growing, Baird analyst William Power wrote. As a result, the company's market penetration is still in its early stages, the analyst contended. Although GoPro is likely to face growing competition, its strong brand and distribution should make it difficult for other companies to take share from the action camera maker, contended the analyst. Moreover, even excluding the potential positive impact of new products and media projects, the camera maker's revenue is poised to rise 23% this year and 20% next year, while its profit should climb 27% next year, Power forecast. At current levels, the stock's valuation is attractive, added the analyst, who kept a $57 price target on the shares. WHAT'S NOTABLE: Another analyst who is upbeat on GoPro's outlook is FBN Securities' Shebly Seyrafi. The stock has sold off despite the camera maker's "robust" growth rates, and, as of yesterday before the market opened, the shares had fallen 58% from their 52-week high of $98, Seyrafi stated in note to investors yesterday morning. The analyst believes that concerns related to entrance into the sports camera market by Chinese company Xiaomi are overblown. He strongly recommended buying shares of GoPro. ANOTHER TO WATCH: GoPro is a major customer of Ambarella (AMBA), which makes chips for video cameras. PRICE ACTION: In early afternoon trading, GoPro climbed 3.5% to $44, while Ambarella lost 1% to $68.75.
08:26 EDTMRVLSemi stocks less likely to rebound now than in 4Q14, says Goldman
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05:48 EDTMRVLStocks with implied volatility movement; KRFT MRVL
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March 20, 2015
09:36 EDTAMBAAmbarella management to meet with Needham
Meetings to be held in Boston on March 24 and in New York on March 25 hosted by Needham.
07:24 EDTMRVL, CAVMBroadcom chip renews competition with in-house hardware makers, WSJ says
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March 19, 2015
13:52 EDTMXLMaxLinear terminates 23 employees in Shanghai facility
Effective on March 13, we terminated 23 research and development employees in our facility in Shanghai, China. We expect to shift certain of the research and development activities that previously took place in Shanghai to other facilities in India and the United States, where we have experienced more success in achieving scalability, resource flexibility, productivity and efficiency. In addition, we currently expect to recognize associated non-recurring severance charges of approximately $600,000 in the quarter ending March 31 related to these Shanghai terminations.
10:02 EDTINVNOn The Fly: Analyst Initiation Summary
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09:29 EDTINVNInvenSense initiated with a Neutral at Rosenblatt
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March 17, 2015
10:50 EDTSIMOSilicon Motion management to meet with Needham
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