Ambarella’s (AMBA) Hold Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG restated their hold rating on shares of Ambarella Inc. (NASDAQ:AMBA) in a research report released on Friday morning. Deutsche Bank AG currently has a $68.00 price objective on the stock.
A number of other brokerages also recently commented on AMBA. Vetr downgraded shares of Ambarella from a buy rating to a sell rating and set a $62.36 price objective for the company. in a research report on Wednesday, August 24th. Canaccord Genuity lifted their price objective on shares of Ambarella from $85.00 to $86.00 and gave the company a buy rating in a research report on Tuesday, September 6th. Pacific Crest reissued an overweight rating and issued a $53.00 price objective on shares of Ambarella in a research report on Monday, June 6th. FBN Securities reissued an outperform rating and issued a $80.00 price objective (up previously from $60.00) on shares of Ambarella in a research report on Tuesday, September 6th. Finally, Needham & Company LLC reissued a hold rating on shares of Ambarella in a research report on Friday, September 2nd. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Ambarella presently has a consensus rating of Buy and an average price target of $68.26.
Shares of Ambarella (NASDAQ:AMBA) opened at 67.46 on Friday. The firm has a market cap of $2.21 billion, a PE ratio of 50.80 and a beta of 1.49. Ambarella has a 12-month low of $33.39 and a 12-month high of $72.99. The stock’s 50 day moving average price is $65.85 and its 200 day moving average price is $50.93.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The company earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. During the same quarter last year, the firm posted $0.88 EPS. The company’s quarterly revenue was down 22.7% on a year-over-year basis. On average, equities research analysts predict that Ambarella will post $2.64 EPS for the current fiscal year.
In other Ambarella news, CEO Feng-Ming Wang sold 9,573 shares of Ambarella stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $67.98, for a total value of $650,772.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $69.13, for a total transaction of $69,130.00. Following the completion of the sale, the director now owns 10,014 shares of the company’s stock, valued at approximately $692,267.82. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of Ambarella by 18.5% in the second quarter. Macquarie Group Ltd. now owns 87,390 shares of the company’s stock valued at $4,440,000 after buying an additional 13,641 shares during the period. Royal Bank of Canada boosted its position in shares of Ambarella by 93.8% in the second quarter. Royal Bank of Canada now owns 14,198 shares of the company’s stock valued at $720,000 after buying an additional 6,872 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Ambarella during the second quarter valued at approximately $213,000. Elk Creek Partners LLC boosted its position in shares of Ambarella by 30.0% in the second quarter. Elk Creek Partners LLC now owns 213,600 shares of the company’s stock valued at $10,853,000 after buying an additional 49,275 shares during the last quarter. Finally, First Foundation Advisors purchased a new position in shares of Ambarella during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 51.33% of the company’s stock.
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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