Ambarella Inc. (AMBA) Upgraded to Buy by Vetr Inc.
Vetr upgraded shares of Ambarella Inc. (NASDAQ:AMBA) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Vetr currently has $74.39 target price on the stock.
AMBA has been the subject of several other reports. Zacks Investment Research cut Ambarella from a buy rating to a hold rating in a research report on Tuesday, July 26th. Pacific Crest reiterated a buy rating on shares of Ambarella in a research report on Friday, September 2nd. Needham & Company LLC reiterated a hold rating on shares of Ambarella in a research report on Friday, September 2nd. Oppenheimer Holdings Inc. reiterated a market perform rating on shares of Ambarella in a research report on Monday, September 5th. Finally, Canaccord Genuity lifted their price target on Ambarella from $85.00 to $86.00 and gave the company a buy rating in a research report on Wednesday, August 31st. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $69.96.
Ambarella (NASDAQ:AMBA) opened at 63.91 on Thursday. The firm has a 50-day moving average price of $68.86 and a 200 day moving average price of $53.99. The company has a market capitalization of $2.09 billion, a P/E ratio of 48.12 and a beta of 1.50. Ambarella has a 52-week low of $33.39 and a 52-week high of $74.95.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.16. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The business earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. During the same period last year, the business posted $0.88 earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, analysts predict that Ambarella will post $2.64 earnings per share for the current fiscal year.
In other news, VP Christopher Day sold 4,272 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $69.32, for a total value of $296,135.04. Following the completion of the sale, the vice president now owns 23,922 shares of the company’s stock, valued at approximately $1,658,273.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO George Laplante sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $67.08, for a total value of $2,012,400.00. Following the completion of the sale, the chief financial officer now directly owns 118,720 shares of the company’s stock, valued at approximately $7,963,737.60. The disclosure for this sale can be found here. 5.43% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC raised its stake in Ambarella by 47.1% in the second quarter. Rice Hall James & Associates LLC now owns 310,746 shares of the company’s stock worth $15,789,000 after buying an additional 99,502 shares during the period. Credit Agricole S A raised its position in 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 last quarter. Quantitative Investment Management LLC acquired a new position in Ambarella during the second quarter worth approximately $2,215,000. Squarepoint Ops LLC raised its position in Ambarella by 941.3% in the first quarter. Squarepoint Ops LLC now owns 48,735 shares of the company’s stock worth $2,178,000 after buying an additional 44,055 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Ambarella during the second quarter worth approximately $506,000. 51.33% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Ambarella Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambarella Inc. and related companies with MarketBeat.com's FREE daily email newsletter.