Ambarella Inc (AMBA) Downgraded by Vetr Inc. to Buy
Ambarella Inc (NASDAQ:AMBA) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They presently have a $64.14 price objective on the stock. Vetr‘s price objective suggests a potential upside of 11.28% from the stock’s previous close.
Several other analysts have also recently weighed in on the company. KeyCorp cut their price objective on Ambarella from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $84.00 price objective (down from $86.00) on shares of Ambarella in a research report on Monday, November 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $80.00 price objective on shares of Ambarella in a research report on Tuesday, January 10th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Ambarella in a research report on Tuesday, December 6th. Finally, Zacks Investment Research cut Ambarella from a “hold” rating to a “sell” rating in a research report on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $69.01.
Shares of Ambarella (NASDAQ:AMBA) traded up 2.31% on Monday, hitting $57.64. The stock had a trading volume of 1,044,644 shares. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 34.31 and a beta of 1.51. Ambarella has a 52 week low of $35.26 and a 52 week high of $74.95. The company has a 50-day moving average of $54.71 and a 200 day moving average of $59.16.
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Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, February 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.18. The company had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $85.92 million. Ambarella had a return on equity of 13.28% and a net margin of 15.32%. Ambarella’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, equities research analysts predict that Ambarella will post $2.19 EPS for the current year.
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In other news, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $60.54, for a total transaction of $60,540.00. Following the completion of the transaction, the director now directly owns 11,893 shares in the company, valued at $720,002.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 1,071 shares of Ambarella stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $55.50, for a total transaction of $59,440.50. Following the transaction, the vice president now owns 22,095 shares of the company’s stock, valued at $1,226,272.50. The disclosure for this sale can be found here. Insiders have sold 18,123 shares of company stock valued at $1,021,942 over the last quarter. Company insiders own 5.43% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Gerstein Fisher raised its position in shares of Ambarella by 9.6% in the third quarter. Gerstein Fisher now owns 18,227 shares of the company’s stock worth $1,053,000 after buying an additional 1,589 shares during the last quarter. Curbstone Financial Management raised its position in shares of Ambarella by 97.5% in the fourth quarter. Curbstone Financial Management now owns 7,890 shares of the company’s stock worth $440,000 after buying an additional 3,895 shares during the last quarter. Capital Impact Advisors raised its position in shares of Ambarella by 77.9% in the fourth quarter. Capital Impact Advisors now owns 15,982 shares of the company’s stock worth $891,000 after buying an additional 7,000 shares during the last quarter. Commonwealth Equity Services raised its position in shares of Ambarella by 14.1% in the fourth quarter. Commonwealth Equity Services now owns 62,620 shares of the company’s stock worth $3,490,000 after buying an additional 7,761 shares during the last quarter. Finally, Capital One National Association raised its position in shares of Ambarella by 70.7% in the fourth quarter. Capital One National Association now owns 100,223 shares of the company’s stock worth $5,587,000 after buying an additional 41,510 shares during the last quarter. Institutional investors own 58.50% of the company’s stock.
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.
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