Ambarella (AMBA) Upgraded to “Buy” by Vetr
Vetr upgraded shares of Ambarella (NASDAQ:AMBA) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $61.51 price target on the semiconductor company’s stock.
AMBA has been the topic of several other research reports. Zacks Investment Research upgraded shares of Ambarella from a sell rating to a hold rating in a research note on Wednesday, November 1st. Needham & Company LLC restated a hold rating on shares of Ambarella in a research note on Friday, December 1st. Morgan Stanley restated an overweight rating and set a $60.00 target price on shares of Ambarella in a research note on Thursday, September 7th. Stifel Nicolaus lowered their target price on shares of Ambarella from $64.00 to $52.00 and set a buy rating on the stock in a research note on Friday, September 1st. Finally, Canaccord Genuity lowered their target price on shares of Ambarella from $72.00 to $58.00 and set a buy rating on the stock in a research note on Tuesday, September 5th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Ambarella presently has a consensus rating of Hold and a consensus target price of $58.65.
Shares of Ambarella (NASDAQ AMBA) traded down $1.76 during trading on Tuesday, reaching $57.57. 1,432,100 shares of the company were exchanged, compared to its average volume of 1,045,829. The company has a market cap of $1,970.60, a PE ratio of 56.51, a price-to-earnings-growth ratio of 6.28 and a beta of 1.57. Ambarella has a 52 week low of $40.06 and a 52 week high of $65.39.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The company had revenue of $89.06 million for the quarter, compared to analysts’ expectations of $89.41 million. Ambarella had a net margin of 11.51% and a return on equity of 7.92%. Ambarella’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. sell-side analysts forecast that Ambarella will post 0.64 EPS for the current year.
In related news, insider Leslie Kohn sold 6,467 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $300,715.50. Following the completion of the sale, the insider now directly owns 907,645 shares of the company’s stock, valued at approximately $42,205,492.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 2,618 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $49.15, for a total transaction of $128,674.70. Following the completion of the sale, the vice president now directly owns 20,377 shares of the company’s stock, valued at $1,001,529.55. The disclosure for this sale can be found here. Insiders sold a total of 27,835 shares of company stock valued at $1,301,265 over the last three months. 5.80% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in AMBA. Victory Capital Management Inc. increased its holdings in Ambarella by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 337 shares in the last quarter. Turner Investments LLC purchased a new stake in Ambarella in the 3rd quarter worth approximately $172,000. Amalgamated Bank increased its holdings in Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 143 shares in the last quarter. Aperio Group LLC purchased a new stake in Ambarella in the 3rd quarter worth approximately $213,000. Finally, Belpointe Asset Management LLC purchased a new stake in Ambarella in the 3rd quarter worth approximately $216,000. 63.21% of the stock is owned by institutional investors.
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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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