Ambarella Inc. (NASDAQ:AMBA) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $74.39 price target on the stock. Vetr‘s target price would indicate a potential upside of 4.07% from the company’s current price.
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Ambarella from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Pacific Crest reissued a “buy” rating on shares of Ambarella in a research note on Friday, September 2nd. Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a research note on Friday, September 2nd. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Ambarella in a research note on Monday, September 5th. Finally, Canaccord Genuity increased their price target on shares of Ambarella from $85.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Ambarella has a consensus rating of “Buy” and an average price target of $69.96.
Shares of Ambarella (NASDAQ:AMBA) traded down 1.46% during trading on Thursday, hitting $71.48. The stock had a trading volume of 667,645 shares. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 53.83 and a beta of 1.50. The stock’s 50-day moving average price is $68.62 and its 200 day moving average price is $53.30. Ambarella has a one year low of $33.39 and a one year high of $74.95.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.02 million. During the same period in the prior year, the firm earned $0.88 earnings per share. Ambarella’s revenue was down 22.7% compared to the same quarter last year. On average, equities analysts forecast that Ambarella will post $2.64 EPS for the current year.
In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $69.13, for a total value of $69,130.00. Following the sale, the director now directly owns 10,014 shares in the company, valued at approximately $692,267.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO George Laplante sold 30,000 shares of Ambarella stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $67.08, for a total transaction of $2,012,400.00. Following the completion of the sale, the chief financial officer now owns 118,720 shares in the company, valued at $7,963,737.60. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Van Berkom & Associates Inc. acquired a new stake in shares of Ambarella during the second quarter valued at about $36,083,000. Lord Abbett & CO. LLC purchased a new position in Ambarella during the second quarter valued at $18,516,000. Columbus Circle Investors purchased a new position in Ambarella during the second quarter valued at $14,506,000. Scout Investments Inc. raised its position in Ambarella by 278.0% in the second quarter. Scout Investments Inc. now owns 250,061 shares of the company’s stock valued at $12,706,000 after buying an additional 183,911 shares in the last quarter. Finally, Norges Bank purchased a new position in Ambarella during the fourth quarter valued at $8,585,000. Hedge funds and other institutional investors own 51.33% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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