Morgan Stanley Increases Ambarella (AMBA) Price Target to $65.00
Ambarella (NASDAQ:AMBA) had its target price upped by equities research analysts at Morgan Stanley from $60.00 to $65.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 12.36% from the company’s previous close.
A number of other research analysts have also recently weighed in on the company. BidaskClub cut Ambarella from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Vetr raised Ambarella from a “hold” rating to a “buy” rating and set a $61.51 price objective on the stock in a research report on Tuesday, December 5th. Oppenheimer reaffirmed a “hold” rating on shares of Ambarella in a research report on Friday, December 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research report on Friday, December 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $62.00 target price (up previously from $52.00) on shares of Ambarella in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Ambarella has an average rating of “Hold” and a consensus price target of $59.15.
Ambarella (AMBA) traded down $0.96 during mid-day trading on Wednesday, hitting $57.85. The stock had a trading volume of 500,400 shares, compared to its average volume of 1,040,065. Ambarella has a 12-month low of $40.06 and a 12-month high of $65.39. The stock has a market cap of $1,920.00, a PE ratio of 56.01, a P/E/G ratio of 5.70 and a beta of 1.57.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.92% and a net margin of 11.51%. The firm had revenue of $89.06 million for the quarter, compared to analysts’ expectations of $89.41 million. During the same period in the previous year, the firm earned $1.11 EPS. The business’s quarterly revenue was down 11.4% on a year-over-year basis. equities analysts predict that Ambarella will post 0.7 earnings per share for the current year.
In other Ambarella news, CEO Feng-Ming Wang sold 11,629 shares of Ambarella stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $540,748.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Yun-Lung Chen sold 11,340 shares of Ambarella stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.80, for a total value of $678,132.00. Following the completion of the sale, the vice president now directly owns 11,386 shares in the company, valued at approximately $680,882.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,175 shares of company stock worth $1,979,397. Corporate insiders own 5.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Ambarella by 12.9% in the 1st quarter. Geode Capital Management LLC now owns 71,105 shares of the semiconductor company’s stock worth $3,890,000 after purchasing an additional 8,147 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Ambarella by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 53,300 shares of the semiconductor company’s stock worth $2,917,000 after purchasing an additional 2,800 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Ambarella by 6.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 8,715 shares of the semiconductor company’s stock worth $423,000 after purchasing an additional 542 shares during the period. Sei Investments Co. boosted its holdings in shares of Ambarella by 280,038.9% in the 2nd quarter. Sei Investments Co. now owns 50,425 shares of the semiconductor company’s stock worth $2,449,000 after purchasing an additional 50,407 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in shares of Ambarella by 31.6% in the 2nd quarter. Global X Management Co. LLC now owns 12,670 shares of the semiconductor company’s stock worth $615,000 after purchasing an additional 3,045 shares during the period. 63.21% of the stock is currently owned by institutional investors and hedge funds.
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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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