Favorable News Coverage Somewhat Unlikely to Impact Ambarella (AMBA) Share Price
News articles about Ambarella (NASDAQ:AMBA) have trended positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Ambarella earned a media sentiment score of 0.26 on Accern’s scale. Accern also gave headlines about the semiconductor company an impact score of 45.8502863109172 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Stock Trading Near the 52-Week Low Ambarella, Inc. (NASDAQ:AMBA) – Sparta Review (spartareview.com)
- Ambarella, Inc. (NasdaqGS:AMBA) vs. Core-Mark Holding Company, Inc. (NasdaqGS:CORE): Quant Technicals In The … – Evergreen Caller (evergreencaller.com)
- AMC Entertainment Holdings, Inc. (AMC) Given Average Rating of “Hold” by Brokerages – Newburgh Gazette (newburghgazette.com)
- Needle Moving Activity Spotted in Seagate Technology plc (NASDAQ:STX) – ExpressNewsline (expressnewsline.com)
Shares of Ambarella (AMBA) opened at 50.90 on Monday. Ambarella has a 12-month low of $46.80 and a 12-month high of $74.95. The firm has a market cap of $1.71 billion, a P/E ratio of 30.08 and a beta of 1.61. The company’s 50 day moving average price is $49.91 and its 200-day moving average price is $54.12.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $63.54 million. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities research analysts anticipate that Ambarella will post $2.07 EPS for the current year.
Ambarella announced that its Board of Directors has initiated a share repurchase plan on Tuesday, June 6th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
AMBA has been the topic of several research reports. TheStreet lowered Ambarella from a “b” rating to a “c+” rating in a research note on Tuesday, June 6th. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a research note on Friday, June 9th. BidaskClub lowered Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Canaccord Genuity restated a “buy” rating and set a $72.00 price target on shares of Ambarella in a research note on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ambarella has a consensus rating of “Buy” and a consensus target price of $67.88.
In related news, insider Leslie Kohn sold 5,973 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $291,303.21. Following the completion of the sale, the insider now directly owns 904,530 shares of the company’s stock, valued at approximately $44,113,928.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 1,526 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $74,423.02. Following the completion of the sale, the vice president now directly owns 22,892 shares of the company’s stock, valued at $1,116,442.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,963 shares of company stock valued at $1,168,676. Insiders own 5.80% 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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