BidaskClub cut shares of Ambarella (NASDAQ:AMBA) from a hold rating to a sell rating in a report released on Saturday, January 13th.
Other equities research analysts have also recently issued reports about the stock. Oppenheimer reaffirmed a hold rating on shares of Ambarella in a research note on Friday, December 1st. Needham & Company LLC reaffirmed a hold rating on shares of Ambarella in a research note on Friday, December 1st. UBS Group raised shares of Ambarella from a market perform rating to an outperform rating in a research note on Wednesday, January 3rd. Vetr cut shares of Ambarella from a buy rating to a hold rating and set a $61.51 price target on the stock. in a research note on Thursday, December 28th. Finally, Morgan Stanley increased their price objective on shares of Ambarella from $60.00 to $65.00 and gave the stock an overweight rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $60.14.
Shares of Ambarella (AMBA) traded down $1.22 during trading on Friday, hitting $51.38. 1,570,400 shares of the stock traded hands, compared to its average volume of 998,488. Ambarella has a fifty-two week low of $40.06 and a fifty-two week high of $66.23. The firm has a market cap of $1,710.00, a PE ratio of 49.40, a price-to-earnings-growth ratio of 4.98 and a beta of 1.59.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data 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 company had revenue of $89.06 million during the quarter, compared to the consensus estimate of $89.41 million. Ambarella had a net margin of 11.51% and a return on equity of 7.87%. Ambarella’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. sell-side analysts expect that Ambarella will post 0.7 earnings per share for the current year.
In other Ambarella news, Director Christopher B. Paisley sold 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $59.23, for a total value of $118,460.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Yun-Lung Chen sold 11,340 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $59.80, for a total value of $678,132.00. Following the completion of the sale, the vice president now owns 11,386 shares in the company, valued at $680,882.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,553 shares of company stock valued at $2,145,108. 5.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AMBA. Victory Capital Management Inc. raised its stake in shares of Ambarella by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 337 shares in the last quarter. Turner Investments LLC bought a new stake in shares of Ambarella during the third quarter valued at about $172,000. Amalgamated Bank raised its stake in shares of Ambarella by 3.6% during the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 143 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Ambarella during the third quarter valued at about $213,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Ambarella during the third quarter valued at about $216,000. Institutional investors and hedge funds own 63.02% 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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