Oppenheimer upgraded shares of Ambarella (NASDAQ:AMBA) from a market perform rating to a buy rating in a report released on Wednesday, January 3rd. Oppenheimer currently has $70.00 price target on the semiconductor company’s stock. Oppenheimer also issued estimates for Ambarella’s FY2020 earnings at $0.55 EPS.
AMBA has been the topic of a number of other reports. Zacks Investment Research raised Ambarella from a sell rating to a hold rating in a research note on Wednesday, November 1st. Needham & Company LLC reiterated a hold rating on shares of Ambarella in a research report on Friday, December 1st. UBS Group upgraded Ambarella from a market perform rating to an outperform rating in a research report on Wednesday, January 3rd. Morgan Stanley reiterated an overweight rating and issued a $60.00 price objective on shares of Ambarella in a research report on Thursday, September 7th. Finally, BidaskClub lowered Ambarella from a hold rating to a sell rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Ambarella has an average rating of Hold and an average target price of $60.14.
Shares of Ambarella (NASDAQ AMBA) traded up $0.25 during trading on Wednesday, reaching $54.92. The company’s stock had a trading volume of 948,404 shares, compared to its average volume of 1,320,000. The stock has a market cap of $1,830.00, a PE ratio of 52.81, a P/E/G ratio of 5.29 and a beta of 1.59. Ambarella has a 1-year low of $40.06 and a 1-year high of $66.23.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The business had revenue of $89.06 million for the quarter, compared to analysts’ expectations of $89.41 million. Ambarella had a return on equity of 7.87% and a net margin of 11.51%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS. equities analysts anticipate that Ambarella will post 0.7 earnings per share for the current year.
In other news, CEO Feng-Ming Wang sold 8,851 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $57.69, for a total value of $510,614.19. Following the completion of the transaction, the chief executive officer now owns 293,267 shares in the company, valued at $16,918,573.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yun-Lung Chen sold 4,435 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $59.80, for a total value of $265,213.00. The disclosure for this sale can be found here. Insiders sold 36,553 shares of company stock worth $2,145,108 over the last three months. Corporate insiders own 5.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Amalgamated Bank raised its stake in shares of Ambarella by 3.6% in the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 143 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Ambarella by 2.6% in the second quarter. Legal & General Group Plc now owns 11,127 shares of the semiconductor company’s stock worth $543,000 after purchasing an additional 285 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Ambarella by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 337 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ambarella by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 24,951 shares of the semiconductor company’s stock worth $1,212,000 after purchasing an additional 376 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Ambarella by 17.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock valued at $238,000 after acquiring an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.
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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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