Ambarella Added to Shooting Stars

Ambarella has been added to our Stock Universe portfolio known as Shooting Stars. Ambarella is definitely a shooting star as it has beat Wall Street expectations for 9 straight quarters. It gets better as this latest is the best earnings beat so far at a whopping 14 cents a share. With a current PEG ration of over 2, the stock is not cheap but definitely belongs in the portfolio. If needed, we will double down at lower levels. Would rather do that than miss the stock completely. The company is a major player in chips for video cameras, digital cameras, and security IP cameras. AMBA is a major supplier to GoPro which has also enjoyed a lot of growth recently. It also supplies Google wearables.

Price “Bought”

100 shares of AMBA at $54.69

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