ValuEngine upgraded shares of Ambarella (NASDAQ:AMBA) from a hold rating to a buy rating in a report published on Thursday.
A number of other analysts have also commented on the company. Oppenheimer raised Ambarella from a market perform rating to a buy rating and set a $70.00 price target on the stock in a research note on Wednesday, January 3rd. BidaskClub lowered Ambarella from a hold rating to a sell rating in a research note on Saturday, January 13th. Zacks Investment Research raised Ambarella from a sell rating to a hold rating in a research note on Wednesday, January 31st. Morgan Stanley lifted their price objective on Ambarella from $60.00 to $65.00 and gave the stock an overweight rating in a research note on Wednesday, December 13th. Finally, UBS raised Ambarella from a market perform rating to an outperform rating in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $60.83.
Ambarella stock traded up $0.27 during midday trading on Thursday, reaching $51.96. The company’s stock had a trading volume of 276,304 shares, compared to its average volume of 1,055,931. Ambarella has a 52 week low of $40.06 and a 52 week high of $66.23. The stock has a market cap of $1,693.30, a PE ratio of 93.44, a P/E/G ratio of 15.32 and a beta of 1.23.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, March 1st. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. Ambarella had a return on equity of 4.04% and a net margin of 6.38%. The firm had revenue of $70.60 million for the quarter, compared to analysts’ expectations of $70.26 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was down 19.3% on a year-over-year basis. research analysts forecast that Ambarella will post 0.22 earnings per share for the current year.
In related news, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $54.87, for a total transaction of $54,870.00. Following the completion of the sale, the director now owns 15,302 shares in the company, valued at $839,620.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Feng-Ming Wang sold 6,024 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $53.07, for a total value of $319,693.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,882 shares of company stock valued at $738,518. Corporate insiders own 5.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Ambarella by 98.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,334 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 1,658 shares during the last quarter. HPM Partners LLC purchased a new stake in Ambarella during the 4th quarter worth about $207,000. Belpointe Asset Management LLC purchased a new stake in Ambarella during the 3rd quarter worth about $216,000. Ardsley Advisory Partners purchased a new stake in Ambarella during the 4th quarter worth about $235,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Ambarella by 13.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 8,506 shares of the semiconductor company’s stock worth $417,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 69.88% of the company’s stock.
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Ambarella Company Profile
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD) video capture, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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