Ambarella’s (AMBA) Buy Rating Reaffirmed at Pacific Crest
Ambarella Inc. (NASDAQ:AMBA)‘s stock had its “buy” rating reaffirmed by stock analysts at Pacific Crest in a report released on Tuesday.
A number of other equities analysts have also issued reports on AMBA. Zacks Investment Research raised Ambarella from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Tuesday, August 2nd. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating and set a $68.62 price target for the company. in a research note on Friday, August 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $86.00 price target on shares of Ambarella in a research note on Thursday, August 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research note on Friday, August 26th. Finally, KeyCorp increased their price target on Ambarella from $53.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, August 30th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.03.
Shares of Ambarella (NASDAQ:AMBA) traded down 0.75% during midday trading on Tuesday, hitting $63.14. The stock had a trading volume of 474,434 shares. The company’s 50-day moving average price is $61.64 and its 200-day moving average price is $58.67. Ambarella has a 12-month low of $33.39 and a 12-month high of $74.95. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 47.55 and a beta of 1.63.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $64.02 million. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. Equities research analysts forecast that Ambarella will post $2.64 EPS for the current year.
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In other news, CFO George Laplante sold 30,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 118,720 shares of the company’s stock, valued at $7,963,737.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yun-Lung Chen sold 4,197 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $74.19, for a total transaction of $311,375.43. Following the completion of the transaction, the vice president now directly owns 13,530 shares in the company, valued at $1,003,790.70. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of AMBA. Principal Financial Group Inc. increased its position in Ambarella by 1.6% in the third quarter. Principal Financial Group Inc. now owns 4,348 shares of the company’s stock valued at $320,000 after buying an additional 70 shares during the last quarter. First Interstate Bank increased its position in Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock valued at $110,000 after buying an additional 88 shares during the last quarter. US Bancorp DE increased its position in Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock valued at $107,000 after buying an additional 197 shares during the last quarter. BlackRock Inc. increased its position in Ambarella by 4.5% in the third quarter. BlackRock Inc. now owns 6,384 shares of the company’s stock valued at $470,000 after buying an additional 277 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock valued at $106,000 after buying an additional 316 shares during the last quarter. 58.80% of the stock is currently owned by institutional investors and hedge funds.
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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