Ambarella Inc. (NASDAQ:AMBA) was upgraded by Vetr from a “sell” rating to a “hold” rating in a research report issued on Monday. The brokerage currently has a $65.38 target price on the stock. Vetr‘s target price suggests a potential downside of 4.75% from the company’s previous close.
AMBA has been the topic of several other reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Ambarella in a report on Thursday, August 25th. Pacific Crest upped their price objective on shares of Ambarella from $53.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, August 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, August 26th. Morgan Stanley reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Ambarella in a report on Friday, September 2nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Ambarella in a report on Friday, September 16th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $68.49.
Ambarella (NASDAQ:AMBA) opened at 68.64 on Monday. The stock has a market capitalization of $2.24 billion, a PE ratio of 51.69 and a beta of 1.49. Ambarella has a 1-year low of $33.39 and a 1-year high of $72.99. The company’s 50-day moving average is $66.93 and its 200 day moving average is $51.83.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.38 by $0.16. The business had revenue of $65.10 million for the quarter, compared to the consensus estimate of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Equities analysts predict that Ambarella will post $2.64 earnings per share for the current year.
In other news, VP Christopher Day sold 1,173 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $50.85, for a total value of $59,647.05. Following the completion of the sale, the vice president now directly owns 23,532 shares in the company, valued at $1,196,602.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO George Laplante sold 4,844 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $67.98, for a total transaction of $329,295.12. Following the completion of the sale, the chief financial officer now owns 94,884 shares of the company’s stock, valued at $6,450,214.32. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of AMBA. Norges Bank acquired a new stake in shares of Ambarella during the fourth quarter worth approximately $8,585,000. IFP Advisors Inc boosted its stake in shares of Ambarella by 28.5% in the first quarter. IFP Advisors Inc now owns 7,195 shares of the company’s stock worth $322,000 after buying an additional 1,596 shares during the period. Credit Agricole S A boosted its stake in shares of Ambarella by 42.9% in the first quarter. Credit Agricole S A now owns 17,000 shares of the company’s stock worth $760,000 after buying an additional 5,100 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Ambarella by 80.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,250 shares of the company’s stock worth $637,000 after buying an additional 6,350 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Ambarella by 10.5% in the first quarter. Geode Capital Management LLC now owns 46,225 shares of the company’s stock worth $2,066,000 after buying an additional 4,408 shares during the period. Institutional investors and hedge funds 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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