Oppenheimer upgraded shares of Ambarella (NASDAQ:AMBA) from a market perform rating to a buy rating in a research report sent to investors on Wednesday, January 3rd. They currently have $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 subject of several other research reports. Zacks Investment Research raised shares of Ambarella from a sell rating to a hold rating in a research report on Wednesday, November 1st. Needham & Company LLC reiterated a hold rating on shares of Ambarella in a research note on Friday, December 1st. UBS Group upgraded shares of Ambarella from a market perform rating to an outperform rating in a research note on Wednesday, January 3rd. Morgan Stanley reiterated an overweight rating and set a $60.00 price objective on shares of Ambarella in a research note on Thursday, September 7th. Finally, BidaskClub downgraded shares of Ambarella from a hold rating to a sell rating in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $60.14.
Ambarella (NASDAQ:AMBA) traded up $0.15 during trading hours on Wednesday, hitting $50.25. 678,251 shares of the stock were exchanged, compared to its average volume of 1,040,000. The firm has a market capitalization of $1,670.00, a price-to-earnings ratio of 48.32, a PEG ratio of 4.85 and a beta of 1.59. Ambarella has a twelve month low of $40.06 and a twelve month high of $66.23.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, topping the 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 firm had revenue of $89.06 million during the quarter, compared to analyst estimates of $89.41 million. During the same quarter in the prior year, the business posted $1.11 earnings per share. Ambarella’s revenue for the quarter was down 11.4% compared to the same quarter last year. sell-side analysts forecast that Ambarella will post 0.7 earnings per share for the current year.
In related news, VP Yun-Lung Chen sold 11,340 shares of the company’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 sale, the vice president now directly owns 11,386 shares of the company’s stock, valued at $680,882.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 2,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $59.23, for a total transaction of $118,460.00. The disclosure for this sale can be found here. Insiders sold 36,553 shares of company stock worth $2,145,108 over the last ninety days. 5.80% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Ambarella by 2.9% during the second quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock worth $104,169,000 after purchasing an additional 60,770 shares during the period. Van Berkom & Associates Inc. raised its holdings in shares of Ambarella by 6.5% during the third quarter. Van Berkom & Associates Inc. now owns 1,316,350 shares of the semiconductor company’s stock worth $64,514,000 after purchasing an additional 80,867 shares during the period. Pinnacle Associates Ltd. raised its holdings in shares of Ambarella by 54.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock worth $49,720,000 after purchasing an additional 359,417 shares during the period. AXA raised its holdings in shares of Ambarella by 17.8% during the third quarter. AXA now owns 834,078 shares of the semiconductor company’s stock worth $40,878,000 after purchasing an additional 125,972 shares during the period. Finally, State Street Corp raised its holdings in shares of Ambarella by 5.9% during the second quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock worth $28,894,000 after purchasing an additional 33,237 shares during the period. 62.94% of the stock is currently owned by institutional investors.
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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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