They may not currently have the support pf WS but they had it in a big way. When you are as high flying as AMBA was and you burn WS then you pay and pay dearly and the pain can continue indefinitely. I agree with others here that until AMBA can become less reliant on GPRO we will stay down in the high $30's/low $40's while we all feast on wish sandwiches.
Then we are royally screwed. Here is what is expected: Analysts are estimating earnings of 27 cents per share on revenue of $53.18 million for the latest quarter, compared with earnings of 71 cents per share on revenue of $71.01 million for the fiscal 2016 first quarter.
If AMBA does not blow that out or misses then I think it is over for a while. If they do beat and then project great things going forward then they may be forgiven and the stock may start to rebuild. This is not the opinion of a professional but from someone who has held AMBA for quite a while.
If you want to read a topical article to either dismiss or perpetuate your question (it has been floating on this board for many months) read the recent Motley Fool article. Their opinion is more that QCOM will compete with AMBA instead of buy them out.