Ambarella, Inc. (NASDAQ:AMBA)‘s stock had its “overweight” rating restated by stock analysts at Morgan Stanley in a note issued to investors on Thursday. They currently have a $60.00 target price on the semiconductor company’s stock. Morgan Stanley’s price target indicates a potential upside of 39.73% from the company’s current price.

AMBA has been the topic of a number of other reports. Zacks Investment Research raised Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Roth Capital lowered Ambarella from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $65.00 to $50.00 in a research note on Friday, September 1st. Dougherty & Co cut their price objective on Ambarella from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, September 1st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $49.00 price objective (down from $54.00) on shares of Ambarella in a research note on Friday, September 1st. Finally, TheStreet lowered Ambarella from a “b” rating to a “c+” rating in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $59.88.

Ambarella (NASDAQ AMBA) traded up 3.27% during mid-day trading on Thursday, reaching $42.94. 2,886,371 shares of the company traded hands. The stock has a 50-day moving average of $50.37 and a 200 day moving average of $53.79. Ambarella has a 52-week low of $40.06 and a 52-week high of $74.95. The stock has a market capitalization of $1.44 billion, a PE ratio of 25.38 and a beta of 1.60.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $70.79 million. Ambarella had a return on equity of 11.97% and a net margin of 16.45%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. Equities research analysts expect that Ambarella will post $1.89 earnings per share for the current year.

Ambarella announced that its board has approved a stock buyback plan on Tuesday, June 6th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 2.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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In other news, CEO Feng-Ming Wang sold 11,628 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 290,691 shares in the company, valued at $14,177,000.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 1,526 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $74,423.02. Following the sale, the vice president now owns 22,892 shares of the company’s stock, valued at approximately $1,116,442.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,963 shares of company stock valued at $1,168,676. Corporate insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oak Associates Ltd. OH increased its holdings in shares of Ambarella by 12.0% during the second quarter. Oak Associates Ltd. OH now owns 24,070 shares of the semiconductor company’s stock valued at $1,169,000 after acquiring an additional 2,575 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Ambarella by 17.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock valued at $238,000 after acquiring an additional 734 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ambarella by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 24,951 shares of the semiconductor company’s stock valued at $1,212,000 after acquiring an additional 376 shares in the last quarter. State Street Corp increased its holdings in shares of Ambarella by 5.9% during the second quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock valued at $28,894,000 after acquiring an additional 33,237 shares in the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Ambarella during the second quarter valued at approximately $557,000. Hedge funds and other institutional investors own 56.74% of the company’s stock.

About Ambarella

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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