JUMP REPORT

Humanising Autonomy, a predictive AI company, announced today it is working with Ambarella, Inc. (Nasdaq: AMBA) to deliver cutting edge perception and human behaviour analytics for advanced driver assistance systems (ADAS), autonomous vehicles (AVs), and consumer dash cameras. Integrating Humanising Autonomy’s HAxEdge intent prediction engine and Ambarella’s CVflow® chip range enables advanced vulnerable road user (VRU) perception in a variety of automotive cameras, with the solution available now for immediate deployment.

As artificial intelligence and 5G technologies expand into more and more niches, and pick up more customers and users, the demand for semiconductor chips is growing – and the chip industry has proven resilient in the face of coronavirus and a general economic turndown. The iShares PHLX Semiconductor ETF (SOXX) is up 32% year-to-date, beating the S&P 500’s 8% gain.The strength of the chip industry has attracted notice from some of Wall Street’s top stock analysts. These analysts aren’t just looking at the big names in the chip industry; the less well-known, mid-cap companies have also been sparking analyst interest. And three top reviewers have recently tagged three of those chip makers, noting double-digit upside potentials.Using TipRanks’ Stock Comparison tool, we were able to evaluate these 3 chip players alongside each other.Cirrus Logic (CRUS)The first stock on our list, Cirrus Logic, is part of the fabless segment in the chip industry. The company outsources the manufacturing of semiconductor products – in this case, chips designed for voice reproduction and high-end audio systems – that it designs and markets. Cirrus’ full fiscal year 2020 ended this past spring, and the company reported $1.28 billion in annual revenue. Fiscal year 2021 is off to a good start for Cirrus. The first quarter report, released in August, showed top line revenues of $246.6 million, up 1.8% year-over-year and beating the forecast by 7.6%. EPS was reported at 35 cents, more than triple the expected results.Cirrus has delivered these strong results despite a difficult business environment. COVID-19 has disrupted consumer purchases, business supply and distribution chains, and global trading networks, putting up strong headwinds for Cirrus to move against. Covering the stock for Benchmark, 5-star analyst Ruben Roy sees Cirrus in a solid position for future sales growth.“We continue to believe that CRUS will benefit from increasing content opportunities in the smartphone and adjacent markets over the next several years as voice based applications continue to proliferate. Importantly, we believe that CRUS’ historical positioning with Apple has improved its standing with other OEMs as a component supplier that has the ability to execute on challenging engineering problems at scale,” Roy opined.Roy’s comments support his Buy rating on the stock, as does his $95 price target, which indicates his confidence in a 33% upside for the coming year. (To watch Roy’s track record, click here)The overall consensus rating on CRUS is a Moderate Buy, based on 8 reviews including 5 Buys and 3 Holds. This stock has a trading price of $71.13, and its $81.83 average price target suggest a 15% one-year upside. (See CRUS stock analysis on TipRanks)Ambarella (AMBA)Next up, Ambarella, is another fabless chip designer. Ambarella’s focus is on video applications; the company’s chips are found in video compression tools and computer vision processors. These apps were growing prior to the corona crisis, as consumers demanded more and faster video communication and streaming capabilities – but the last 8 months have seen video demand increase even more, with the hard shift toward virtual offices and remote work.Despite the current utility value of Ambarella’s chipsets, the company has suffered from the general headwinds discussed above. Ambarella has diversified its product line by moving into automotive and video security applications, but was not able to fully compensate for the recessionary pressures in the first half of the year. In the first three quarters of 2020, AMBA reported top line results of $57 million, $54 million, and $50 million; the falling off is clear to see.AMBA’s underperformance, however, opens up opportunities, at least in the view of Craig Hallum analyst Richard Shannon. Shannon rates AMBA as a Buy, and sets a $75 price target, suggesting the stock has room to grow 33%. (To watch Shannon’s track record, click here)“While Auto production volumes are down considerably, and the Security market has big geopolitically-driven cross-currents, the underlying dynamics remain positive… We recognize the leap that investors need to make to buy a stock at 7x+ EV/S where sales have declined for 5 years running. However, the huge opportunities for vision-based systems in a large variety of applications, and what looks like a strong start with both CV technologies and Auto applications are encouraging,” Shannon commented. Overall, Ambarella’s Moderate Buy analyst consensus rating is derived from 4 Buys and 2 Holds set in recent weeks. The stock average price target is $65, implying an upside of 15% from the current share price of $56.24. (See AMBA stock analysis on TipRanks)MACOM Technology Solutions (MTSI)Last but not least is MACOM Technology. This Massachusetts-based company caters to the Federal government, providing semiconductor components and devices for radio communications systems, especially in the microwave and millimeter wave bands. MACOM’s government customers include the Federal Aviation Administration and the National Oceanic and Atmospheric Administration. Private sector customers, like Northrop Grumman, are closely tied to government contracts.MACOM offers a product line that is heavy into 5G, giving customers chipsets to enhance capabilities on the new networks. The company’s products include low noise amplifiers, mixers, and detectors, and are marketed at least in part on flexibility – they function across large parts of both the 5G and 4G wavebands.Unlike the stocks above, MTSI shares have gained value this year. The stock is up 36% year-to-date – and the year still have more than two months to go. Earnings and revenues have also shown gains this year; the top line is up to $137 million, while earnings in the last quarter came in at 20 cents per share, a full 9 cents over the forecast.5-star analyst Harsh Kumar of Piper Sandler counts himself as a fan. Kumar believes “MACOM is continuing to display exceptional execution and see the company as extremely well positioned over the near and mid-term.” The analyst added, “We do not believe the risk of a5G slowdown at this point is real. Even if a slowdown does occur, we see MACOM as well insulated, as it currently does not garner more than 10%-15% of revenue from this end market.”To this end, Kumar gives MTSI shares an Overweight (i.e. Buy) rating, and his $47 price target implies a 29% upside for the year ahead. (To watch Kumar’s track record, click here)All in all, MACOM Technology Solutions gets a Moderate Buy from the analyst consensus rating, with recent reviews including 6 Buys, 2 Holds, and 1 Sell. This stock has an average price target of $43.90 and a share price of $36.27, giving it an upside potential of 21%. (See MTSI stock analysis on TipRanks)To find good ideas for chip stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Ambarella (AMBA) reported earnings 30 days ago. What’s next for the stock? We take a look at earnings estimates for some clues.

How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]

Upgrades * For Fox Factory Holding Corp (NASDAQ: FOXF), Stifel upgraded the previous rating of Hold to the current rating Buy. Fox Factory Hldg earned $0.50 in the second quarter, compared to $0.68 in the year-ago quarter. The current stock performance of Fox Factory Hldg shows a 52-week-high of $113.41 and a 52-week-low of $34.58. Moreover, at the end of the last trading period, the closing price was at $75.59. * Morgan Stanley upgraded the previous rating for II-VI Inc (NASDAQ: IIVI) from Equal-Weight to Overweight. For the fourth quarter, II-VI had an EPS of $1.18, compared to year-ago quarter EPS of $0.67. The stock has a 52-week-high of $52.97 and a 52-week-low of $19.00. At the end of the last trading period, II-VI closed at $37.89. * For Kinross Gold Corp (NYSE: KGC), BMO Capital upgraded the previous rating of Market Perform to the current rating Outperform. In the second quarter, Kinross Gold showed an EPS of $0.15, compared to $0.06 from the year-ago quarter. The current stock performance of Kinross Gold shows a 52-week-high of $10.21 and a 52-week-low of $2.72. Moreover, at the end of the last trading period, the closing price was at $9.37. * Stifel upgraded the previous rating for Dave & Buster’s Entertainment Inc (NASDAQ: PLAY) from Hold to Buy. For the second quarter, Dave & Buster’s Enter had an EPS of $1.24, compared to year-ago quarter EPS of $0.90. At the moment, the stock has a 52-week-high of $48.80 and a 52-week-low of $4.61. Dave & Buster’s Enter closed at $14.12 at the end of the last trading period. * Morgan Stanley upgraded the previous rating for SunPower Corp (NASDAQ: SPWR) from Underweight to Equal-Weight. In the second quarter, SunPower showed an EPS of $0.22, compared to $0.22 from the year-ago quarter. At the moment, the stock has a 52-week-high of $15.57 and a 52-week-low of $4.03. SunPower closed at $9.89 at the end of the last trading period. Downgrades * For Apartment Investment & Management Co (NYSE: AIV), Citigroup downgraded the previous rating of Neutral to the current rating Sell. For the second quarter, Apartment Inv & Mgmt had an EPS of $0.63, compared to year-ago quarter EPS of $0.60. The current stock performance of Apartment Inv & Mgmt shows a 52-week-high of $55.68 and a 52-week-low of $24.53. Moreover, at the end of the last trading period, the closing price was at $36.38. * According to Citigroup, the prior rating for Mirati Therapeutics Inc (NASDAQ: MRTX) was changed from Buy to Neutral. Mirati Therapeutics earned $1.89 in the second quarter, compared to $1.26 in the year-ago quarter. The current stock performance of Mirati Therapeutics shows a 52-week-high of $171.48 and a 52-week-low of $66.01. Moreover, at the end of the last trading period, the closing price was at $161.97. * Wells Fargo downgraded the previous rating for NovoCure Ltd (NASDAQ: NVCR) from Overweight to Equal-Weight. NovoCure earned $0.02 in the second quarter, compared to $0.01 in the year-ago quarter. At the moment, the stock has a 52-week-high of $110.87 and a 52-week-low of $53.40. NovoCure closed at $108.98 at the end of the last trading period. * According to Chardan Capital, the prior rating for Seres Therapeutics Inc (NASDAQ: MCRB) was changed from Buy to Neutral. Seres Therapeutics earned $0.28 in the second quarter, compared to $0.24 in the year-ago quarter. At the moment, the stock has a 52-week-high of $33.00 and a 52-week-low of $2.52. Seres Therapeutics closed at $26.86 at the end of the last trading period. * According to JP Morgan, the prior rating for Beyond Meat Inc (NASDAQ: BYND) was changed from Neutral to Underweight. Beyond Meat earned $0.02 in the second quarter, compared to $0.06 in the year-ago quarter. The current stock performance of Beyond Meat shows a 52-week-high of $167.16 and a 52-week-low of $48.18. Moreover, at the end of the last trading period, the closing price was at $157.22. * Initiations * B. Riley FBR initiated coverage on Abeona Therapeutics Inc (NASDAQ: ABEO) with a Buy rating. The price target for Abeona Therapeutics is set to $5.00. Abeona Therapeutics earned $0.14 in the second quarter, compared to $0.49 in the year-ago quarter. The current stock performance of Abeona Therapeutics shows a 52-week-high of $5.19 and a 52-week-low of $1.35. Moreover, at the end of the last trading period, the closing price was at $1.96. * With a current rating of Buy, Berenberg initiated coverage on Ambarella Inc (NASDAQ: AMBA). The price target seems to have been set at $67.00 for Ambarella. In the second quarter, Ambarella showed an EPS of $0.06, compared to $0.21 from the year-ago quarter. The stock has a 52-week-high of $73.59 and a 52-week-low of $36.02. At the end of the last trading period, Ambarella closed at $52.19. * Compass Point initiated coverage on Argo Group International Holdings Ltd (NYSE: ARGO) with a Buy rating. The price target for Argo Gr Intl Hldgs is set to $41.00. For the second quarter, Argo Gr Intl Hldgs had an EPS of $0.14, compared to year-ago quarter EPS of $0.48. The stock has a 52-week-high of $70.89 and a 52-week-low of $25.00. At the end of the last trading period, Argo Gr Intl Hldgs closed at $35.59. * With a current rating of Outperform, Cowen & Co. initiated coverage on BioLife Solutions Inc (NASDAQ: BLFS). The price target seems to have been set at $33.00 for BioLife Solutions. In the second quarter, BioLife Solutions showed an EPS of $0.01, compared to $0.04 from the year-ago quarter. The stock has a 52-week-high of $28.28 and a 52-week-low of $7.37. At the end of the last trading period, BioLife Solutions closed at $25.43. * Goldman Sachs initiated coverage on Intellia Therapeutics Inc (NASDAQ: NTLA) with a Buy rating. The price target for Intellia Therapeutics is set to $33.00. For the second quarter, Intellia Therapeutics had an EPS of $0.61, compared to year-ago quarter EPS of $0.56. The stock has a 52-week-high of $25.56 and a 52-week-low of $9.18. At the end of the last trading period, Intellia Therapeutics closed at $22.45. * With a current rating of Buy, Benchmark initiated coverage on MACOM Technology Solutions Holdings Inc (NASDAQ: MTSI). The price target seems to have been set at $47.00 for MACOM Technology. For the third quarter, MACOM Technology had an EPS of $0.33, compared to year-ago quarter EPS of $0.42. The stock has a 52-week-high of $44.69 and a 52-week-low of $15.03. At the end of the last trading period, MACOM Technology closed at $32.79. * With a current rating of Hold, Truist Securities initiated coverage on Strategic Education Inc (NASDAQ: STRA). The price target seems to have been set at $105.00 for Strategic Education. In the second quarter, Strategic Education showed an EPS of $2.06, compared to $1.59 from the year-ago quarter. The current stock performance of Strategic Education shows a 52-week-high of $187.97 and a 52-week-low of $87.80. Moreover, at the end of the last trading period, the closing price was at $93.80. * With a current rating of Buy, Citigroup initiated coverage on Utz Brands Inc (NYSE: UTZ). The price target seems to have been set at $21.00 for Utz Brands. At the moment, the stock has a 52-week-high of $19.16 and a 52-week-low of $15.98. Utz Brands closed at $17.91 at the end of the last trading period. * With a current rating of Buy, Stifel initiated coverage on Construction Partners Inc (NASDAQ: ROAD). The price target seems to have been set at $21.00 for Construction Partners. For the third quarter, Construction Partners had an EPS of $0.30, compared to year-ago quarter EPS of $0.33. At the moment, the stock has a 52-week-high of $22.15 and a 52-week-low of $11.96. Construction Partners closed at $17.89 at the end of the last trading period. * With a current rating of Outperform, Wedbush initiated coverage on Retrophin Inc (NASDAQ: RTRX). The price target seems to have been set at $33.00 for Retrophin. For the second quarter, Retrophin had an EPS of $0.22, compared to year-ago quarter EPS of $0.58. The current stock performance of Retrophin shows a 52-week-high of $21.92 and a 52-week-low of $8.98. Moreover, at the end of the last trading period, the closing price was at $19.67. * Piper Sandler initiated coverage on Intuit Inc (NASDAQ: INTU) with an Overweight rating. The price target for Intuit is set to $351.00. Intuit earned $1.81 in the fourth quarter, compared to $0.09 in the year-ago quarter. The stock has a 52-week-high of $360.00 and a 52-week-low of $187.68. At the end of the last trading period, Intuit closed at $307.23.See more from Benzinga * A Look Into Blackstone Group’s Debt * A Look Into Eli Lilly’s Debt * Sanofi: Debt Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.