Ambarella (NASDAQ:AMBA) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
Several other research analysts have also weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price objective (down from $64.00) on shares of Ambarella in a research report on Friday, August 25th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Ambarella in a research report on Thursday, August 31st. Craig Hallum lowered Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Friday, September 1st. Deutsche Bank reissued a “hold” rating and issued a $49.00 price objective (down from $54.00) on shares of Ambarella in a research report on Friday, September 1st. Finally, Roth Capital lowered Ambarella from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $65.00 to $50.00 in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Ambarella has an average rating of “Hold” and a consensus price target of $58.65.
Shares of Ambarella (NASDAQ:AMBA) traded up $1.05 on Thursday, reaching $58.14. The company’s stock had a trading volume of 978,928 shares, compared to its average volume of 1,044,639. The firm has a market cap of $1,930.00, a P/E ratio of 54.83, a PEG ratio of 6.10 and a beta of 1.57. Ambarella has a 52-week low of $40.06 and a 52-week high of $65.39.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. Ambarella had a return on equity of 7.92% and a net margin of 11.51%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS. equities analysts predict that Ambarella will post 0.64 earnings per share for the current fiscal year.
In related news, CFO George Laplante sold 5,592 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $260,028.00. Following the completion of the sale, the chief financial officer now directly owns 103,586 shares of the company’s stock, valued at approximately $4,816,749. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Day sold 1,529 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $71,098.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,835 shares of company stock valued at $1,301,265. Corporate insiders own 5.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of AMBA. Pinnacle Associates Ltd. increased its position in Ambarella by 54.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock valued at $49,720,000 after buying an additional 359,417 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Ambarella in the 3rd quarter valued at about $17,534,000. AXA increased its position in Ambarella by 100.6% in the 2nd quarter. AXA now owns 708,106 shares of the semiconductor company’s stock valued at $34,379,000 after buying an additional 355,170 shares in the last quarter. Eagle Asset Management Inc. increased its position in Ambarella by 36.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock valued at $55,949,000 after buying an additional 306,248 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its position in Ambarella by 53.8% in the 2nd quarter. State of Tennessee Treasury Department now owns 600,000 shares of the semiconductor company’s stock valued at $29,130,000 after buying an additional 210,000 shares in the last quarter. 63.21% of the stock is owned by institutional investors and hedge funds.
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Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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