Strategist Sees 6.5% Post-Earnings Move For Ambarella Inc.

Ambarella Inc. AMBA will move 6.5 percent after it posts earnings later Tuesday, according to TD Ameritrade's Chief Strategist JJ Kinahan told Benzinga. Kinahan made the prediction based on recent activity in the options market. The maker of of chips for video devices changed hands recently at $91.22, off $3.30. The shares have gained 48 percent in the past three months, partly on improved guidance from its largest customer, GoPro Inc. GPRO. "That's pretty impressive," Kinahan said of the recent share-price gain. Wall Street expects Ambarella to post earnings of $0.59 cents a share, on revenue of $67.36 million. The company has forecast revenue between $64 million and $68 million, along with net income of $18 million to $20 million. Ambarella has beaten Wall Street's expectations by double-digit percentages in each of the most recent four quarters.