BidaskClub upgraded shares of Ambarella (NASDAQ:AMBA) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other research firms have also recently issued reports on AMBA. ValuEngine upgraded Ambarella from a sell rating to a hold rating in a report on Friday, September 8th. Morgan Stanley restated an overweight rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, September 27th. Oppenheimer upgraded Ambarella from a market perform rating to a buy rating and set a $70.00 price objective for the company in a report on Wednesday, January 3rd. Zacks Investment Research cut Ambarella from a hold rating to a sell rating in a report on Thursday, September 7th. Finally, KeyCorp restated a hold rating on shares of Ambarella in a report on Friday, November 3rd. Nine research analysts have rated the stock with 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 $60.14.
Ambarella (AMBA) traded down $0.33 during midday trading on Friday, hitting $63.29. The stock had a trading volume of 401,827 shares, compared to its average volume of 1,180,000. The company has a market cap of $2,110.00, a P/E ratio of 60.86, a P/E/G ratio of 6.16 and a beta of 1.59. Ambarella has a 52-week low of $40.06 and a 52-week high of $66.23.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.87% and a net margin of 11.51%. The firm had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. During the same quarter in the previous year, the company posted $1.11 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. equities analysts forecast that Ambarella will post 0.7 earnings per share for the current fiscal year.
In other Ambarella news, VP Christopher Day sold 1,111 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $57.69, for a total value of $64,093.59. Following the completion of the sale, the vice president now directly owns 22,216 shares in the company, valued at approximately $1,281,641.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Yun-Lung Chen sold 11,340 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $59.80, for a total value of $678,132.00. Following the completion of the sale, the vice president now owns 11,386 shares of the company’s stock, valued at $680,882.80. The disclosure for this sale can be found here. Insiders sold a total of 36,553 shares of company stock valued at $2,145,108 over the last quarter. Company insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Ambarella by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 337 shares in the last quarter. Turner Investments LLC bought a new position in shares of Ambarella in the 3rd quarter worth $172,000. Amalgamated Bank raised its position in shares of Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 143 shares in the last quarter. Aperio Group LLC bought a new position in shares of Ambarella in the 3rd quarter worth $213,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Ambarella in the 3rd quarter worth $216,000. 63.01% of the stock is owned by hedge funds and other institutional investors.
Ambarella Company Profile
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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