Ambarella (NASDAQ:AMBA) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday, September 29th.
Several other analysts also recently commented on AMBA. Dougherty & Co cut their target price on Ambarella from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, June 6th. UBS Group downgraded Ambarella to a “market perform” rating in a research note on Wednesday, June 6th. Roth Capital dropped their price target on Ambarella from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 6th. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Finally, Oppenheimer restated a “market perform” rating on shares of Ambarella in a research note on Wednesday, June 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Ambarella presently has a consensus rating of “Hold” and a consensus price target of $52.15.
Shares of Ambarella stock traded up $0.80 during midday trading on Friday, hitting $33.66. The company had a trading volume of 628,816 shares, compared to its average volume of 1,067,542. The company has a market capitalization of $1.24 billion, a P/E ratio of 61.20 and a beta of 1.06. Ambarella has a 52-week low of $31.41 and a 52-week high of $66.23.
Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, August 30th. The semiconductor company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.13 by $0.12. Ambarella had a negative return on equity of 0.71% and a negative net margin of 1.40%. The business had revenue of $62.47 million for the quarter, compared to the consensus estimate of $62.27 million. Research analysts predict that Ambarella will post -0.84 earnings per share for the current fiscal year.
In other news, CEO Feng-Ming Wang sold 10,727 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $35.56, for a total transaction of $381,452.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Jeffrey Richardson sold 10,197 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $39.93, for a total value of $407,166.21. Following the transaction, the director now owns 8,304 shares of the company’s stock, valued at approximately $331,578.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,609 shares of company stock valued at $1,628,876. Company insiders own 5.84% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AMS Capital Ltda purchased a new position in shares of Ambarella during the second quarter valued at approximately $1,373,000. Pinnacle Associates Ltd. boosted its position in shares of Ambarella by 5.8% during the second quarter. Pinnacle Associates Ltd. now owns 953,325 shares of the semiconductor company’s stock valued at $36,808,000 after buying an additional 52,391 shares during the period. Marathon Capital Management purchased a new position in shares of Ambarella during the second quarter valued at approximately $270,000. ING Groep NV boosted its position in shares of Ambarella by 846.4% during the second quarter. ING Groep NV now owns 137,225 shares of the semiconductor company’s stock valued at $5,298,000 after buying an additional 122,725 shares during the period. Finally, Baillie Gifford & Co. boosted its position in shares of Ambarella by 23.3% during the second quarter. Baillie Gifford & Co. now owns 326,847 shares of the semiconductor company’s stock valued at $12,620,000 after buying an additional 61,762 shares during the period. Institutional investors own 70.31% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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