Ambarella, Inc. (NASDAQ:AMBA) Receives Average Recommendation of “Buy” from Brokerages
Shares of Ambarella, Inc. (NASDAQ:AMBA) have been given a consensus rating of “Buy” by the sixteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $67.40.
A number of brokerages recently issued reports on AMBA. Vetr cut Ambarella from a “strong-buy” rating to a “buy” rating and set a $62.50 target price on the stock. in a report on Monday, May 1st. Stifel Nicolaus restated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of Ambarella in a report on Thursday, June 1st. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a report on Friday, June 9th. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a report on Friday, June 9th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $72.00 price target on shares of Ambarella in a report on Wednesday, June 7th.
Shares of Ambarella (NASDAQ AMBA) traded up 0.02% during mid-day trading on Tuesday, hitting $51.03. The stock had a trading volume of 60,801 shares. 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 30.16 and a beta of 1.63. The company has a 50 day moving average price of $55.93 and a 200 day moving average price of $54.69.
Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. The business had revenue of $64.10 million for 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 company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. Equities analysts forecast that Ambarella will post $2.07 earnings per share for the current fiscal year.
Ambarella announced that its board has initiated a share repurchase plan on Tuesday, June 6th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
In related news, CFO George Laplante sold 4,836 shares of Ambarella stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $235,851.72. Following the completion of the sale, the chief financial officer now owns 100,848 shares of the company’s stock, valued at $4,918,356.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Feng-Ming Wang sold 11,628 shares of Ambarella stock in a transaction on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $567,097.56. Following the sale, the chief executive officer now directly owns 290,691 shares of the company’s stock, valued at approximately $14,177,000.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,963 shares of company stock valued at $1,168,676. Insiders own 5.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Handelsinvest Investeringsforvaltning boosted its stake in Ambarella by 89.5% in the second quarter. Handelsinvest Investeringsforvaltning now owns 41,700 shares of the semiconductor company’s stock worth $2,025,000 after buying an additional 19,700 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Ambarella during the second quarter worth about $3,142,000. Nomura Asset Management Co. Ltd. boosted its stake in Ambarella by 2,572.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 294,000 shares of the semiconductor company’s stock worth $16,085,000 after buying an additional 283,000 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Ambarella by 14.1% in the first quarter. Clearbridge Investments LLC now owns 315,801 shares of the semiconductor company’s stock worth $17,277,000 after buying an additional 38,984 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Ambarella during the first quarter worth about $586,000. 55.50% of the stock is owned by hedge funds and other institutional investors.
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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