Ambarella (NASDAQ:AMBA) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Several other equities research analysts have also weighed in on the stock. Oppenheimer upgraded shares of Ambarella from a “market perform” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday, January 3rd. UBS Group upgraded shares of Ambarella from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Vetr lowered shares of Ambarella from a “buy” rating to a “hold” rating and set a $61.51 target price on the stock. in a report on Thursday, December 28th. Morgan Stanley increased their target price on shares of Ambarella from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Ambarella in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Ambarella currently has a consensus rating of “Hold” and a consensus target price of $60.14.
Ambarella (AMBA) opened at $51.38 on Friday. Ambarella has a twelve month low of $40.06 and a twelve month high of $66.23. The firm has a market cap of $1,711.31, a P/E ratio of 48.93, a P/E/G 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 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Ambarella had a net margin of 11.51% and a return on equity of 7.87%. The business had revenue of $89.06 million for the quarter, compared to analyst estimates of $89.41 million. During the same period in the prior year, the business posted $1.11 earnings per share. Ambarella’s revenue was down 11.4% compared to the same quarter last year. equities research analysts forecast that Ambarella will post 0.7 EPS for the current fiscal year.
In related news, VP Yun-Lung Chen sold 4,435 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $59.80, for a total transaction of $265,213.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Feng-Ming Wang sold 8,851 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $57.69, for a total transaction of $510,614.19. Following the sale, the chief executive officer now owns 293,267 shares in the company, valued at $16,918,573.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,553 shares of company stock worth $2,145,108. Company insiders own 5.80% of the company’s stock.
Several large investors have recently modified their holdings of AMBA. Victory Capital Management Inc. raised its holdings 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 worth $109,000 after acquiring an additional 337 shares during the period. Turner Investments LLC acquired a new stake in shares of Ambarella during the third quarter worth $172,000. Amalgamated Bank raised its holdings in shares of Ambarella by 3.6% during the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 143 shares during the period. Aperio Group LLC acquired a new stake in shares of Ambarella during the third quarter worth $213,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Ambarella during the third quarter worth $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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