Needham & Company Starts Ambarella (AMBA) at Strong Buy

Needham & Company initiates coverage on Ambarella (NASDAQ: AMBA) with a Strong Buy. PT $12.00.

"Ambarella is a fabless developer of low-power, high-performance video compression and image processing solutions found in both consumer and commercial applications, including IP cameras, sports cameras, digital still cameras, automotive dashboard recorders and broadcast infrastructure systems," the analyst notes.

They highlight: an industry leading technical team; targets protected consumer video applications; Digital still and mirrorless cameras present upside opportunity; Ambarella is the broadcast market leader.

NOTE: Needham & Company is one of four firms that launched coverage on the recent IPO Monday.

For an analyst ratings summary and ratings history on Ambarella click here. For more ratings news on Ambarella click here.

Shares of Ambarella closed at $7.70 yesterday.

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