Ambarella, Inc. (NASDAQ:AMBA) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday, September 8th.
A number of other research firms have also recently commented on AMBA. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of Ambarella in a report on Wednesday, June 7th. Canaccord Genuity reiterated a “buy” rating and set a $72.00 price objective on shares of Ambarella in a report on Wednesday, June 7th. Vetr cut shares of Ambarella from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 31st. Roth Capital reissued a “buy” rating and set a $65.00 price target on shares of Ambarella in a research report on Thursday, August 31st. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ambarella in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.23.
Shares of Ambarella (NASDAQ:AMBA) traded up 2.13% during mid-day trading on Friday, hitting $46.43. The company had a trading volume of 1,003,050 shares. Ambarella has a one year low of $40.06 and a one year high of $74.95. The company has a market capitalization of $1.54 billion, a P/E ratio of 30.33 and a beta of 1.60. The firm’s 50-day moving average price is $49.50 and its 200 day moving average price is $53.28.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $0.54 earnings per share. Analysts predict that Ambarella will post $1.89 earnings per share for the current fiscal year.
Ambarella declared that its board has authorized a stock repurchase program on Tuesday, June 6th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the semiconductor company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 1,006 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Ambarella during the first quarter valued at approximately $151,000. FNY Partners Fund LP purchased a new position in Ambarella during the first quarter valued at approximately $164,000. Dubuque Bank & Trust Co. grew its stake in Ambarella by 4.0% during the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 147 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Ambarella by 3.6% during the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 56.74% 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 ValuEngine’s full report, visit ValuEngine’s official website.
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