Yahoo Finance Today’s Research Reports on Stocks to Watch: Ambarella and Micron Technology
NEW YORK, NY / ACCESSWIRE / December 4, 2017 / Ambarella shares were on fire in Friday trading after better than expected quarterly results. Shares of Micron closed slightly in the red with continued losses after having four straight weeks of gains.
RDI Initiates Coverage on:
Ambarella, Inc.
https://rdinvesting.com/news/?ticker=AMBA
Micron Technology, Inc.
https://rdinvesting.com/news/?ticker=MU
Ambarella, Inc. shares closed up 14.30% on Friday with a little over 8.8 million shares traded. The stock came just 30 cents shy of hitting its 52-week high during intra-day trading. The stock soared higher after a strong third quarter financial report. Despite the fact that revenues fell over 11% and that adjusted net income also fell from the previous quarter, it was better than what analysts had expected. Adjusted net income of $25.7 million, or $0.75 per diluted share, was higher than the earnings of $0.67 per share that was expected. CEO Fermi Wang remarked that the company had "solid execution in support of the development and delivery of our next generation computer vision solutions." For the current quarter, the company is expecting revenue in the range of $68 million to $72 million. While in line with Wall Street's estimates, it's a drop of about 22.3% to 17.7% year over year.
Access RDI's Ambarella, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMBA
Micron Technology, Inc. shares closed down a modest 0.94% this past Friday on trading volume more than double compared to usual. The stock traded a little over 73 million shares. Micron shares saw a pull back last week after seeing gains for four weeks. The fact that Western Digital was downgraded by Morgan Stanley also had traders concerned and was a push for more profit taking. Recently Micron shares had closed at a 17-year high of $49.68. Analyst Weston Twigg of KeyBanc Capital wrote "Despite good long-term memory trends, we see neutral to negative dynamics in the near- to midterm for NAND, and neutral dynamics for DRAM." The company also not too long ago launched a 64-layer NAND (flash) technology that it developed in partnership with Intel. According to CEO Sanjay Mehrotra, the new "3D NAND" is already being produced at higher, more mature yields than the company's last-generation 2D technology in the same time frame. Mehrotra expects 20%-25% compound annual growth rate (CAGR) for DRAM and slightly higher for flash memory.
Access RDI's Micron Technology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MU
Our Actionable Research on Ambarella, Inc. (NASDAQ: AMBA) and Micron Technology, Inc. (NASDAQ: MU) be downloaded free of charge at Research Driven Investing.
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