Ambarella, Inc. (NASDAQ:AMBA)‘s stock had its “overweight” rating reissued by investment analysts at Morgan Stanley in a report released on Thursday. They presently have a $65.00 price objective on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 20.19% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Ambarella from a “hold” rating to a “sell” rating in a report on Friday, June 9th. Canaccord Genuity restated a “buy” rating and issued a $72.00 price objective on shares of Ambarella in a report on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of Ambarella in a report on Thursday, June 1st. Deutsche Bank AG reduced their price objective on shares of Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a report on Friday, June 9th. Finally, TheStreet lowered shares of Ambarella from a “b” rating to a “c+” rating in a report on Tuesday, June 6th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $67.88.

Ambarella (NASDAQ AMBA) traded up 0.87% during trading on Thursday, reaching $54.55. 545,339 shares of the company’s stock traded hands. The company has a market cap of $1.83 billion, a PE ratio of 32.24 and a beta of 1.61. Ambarella has a 12-month low of $46.80 and a 12-month high of $74.95. The company has a 50 day moving average price of $50.97 and a 200-day moving average price of $54.18.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. Ambarella had a net margin of 18.47% and a return on equity of 13.70%. The business had revenue of $64.10 million for the quarter, compared to analyst estimates of $63.54 million. During the same period last year, the business earned $0.34 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Ambarella will post $2.07 EPS for the current fiscal year.

Ambarella declared that its Board of Directors has initiated a stock buyback program on Tuesday, June 6th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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In other Ambarella news, CFO George Laplante sold 4,836 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $48.77, for a total transaction of $235,851.72. Following the transaction, the chief financial officer now directly owns 100,848 shares of the company’s stock, valued at approximately $4,918,356.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 11,628 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $567,097.56. Following the transaction, the chief executive officer now directly owns 290,691 shares in the company, valued at $14,177,000.07. The disclosure for this sale can be found here. Insiders have sold a total of 23,963 shares of company stock worth $1,168,676 over the last three months. 5.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Tennessee Treasury Department increased its position in shares of Ambarella by 14.7% in the first quarter. State of Tennessee Treasury Department now owns 390,000 shares of the semiconductor company’s stock valued at $21,337,000 after buying an additional 50,000 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Ambarella by 87.4% in the first quarter. Parametric Portfolio Associates LLC now owns 9,360 shares of the semiconductor company’s stock valued at $512,000 after buying an additional 4,365 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Ambarella by 3.4% in the first quarter. Eagle Asset Management Inc. now owns 846,157 shares of the semiconductor company’s stock valued at $46,293,000 after buying an additional 28,114 shares during the last quarter. Handelsinvest Investeringsforvaltning increased its position in shares of Ambarella by 14.0% in the first quarter. Handelsinvest Investeringsforvaltning now owns 22,000 shares of the semiconductor company’s stock valued at $1,204,000 after buying an additional 2,700 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Ambarella by 1.3% in the first quarter. Swiss National Bank now owns 54,333 shares of the semiconductor company’s stock valued at $2,973,000 after buying an additional 700 shares during the last quarter. 56.74% of the stock is currently owned by 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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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