Ambarella, Inc. (AMBA) Stock Rating Upgraded by ValuEngine
Ambarella, Inc. (NASDAQ:AMBA) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.
Other analysts have also recently issued reports about the stock. Canaccord Genuity restated a “buy” rating and set a $72.00 price target on shares of Ambarella in a report on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating and set a $64.00 price target (down from $65.00) on shares of Ambarella in a report on Wednesday, June 7th. Vetr cut shares of Ambarella from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 31st. Dougherty & Co decreased their price target on shares of Ambarella from $75.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 1st. Finally, Roth Capital reiterated a “buy” rating and issued a $65.00 target price on shares of Ambarella in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, seven 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 an average price target of $58.23.
Shares of Ambarella (AMBA) traded up 1.16% during trading on Friday, reaching $43.44. 2,228,731 shares of the company traded hands. Ambarella has a 12 month low of $40.06 and a 12 month high of $74.95. The firm has a 50-day moving average price of $50.15 and a 200-day moving average price of $53.72. The firm has a market capitalization of $1.46 billion, a PE ratio of 25.67 and a beta of 1.60.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.97%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Equities research analysts anticipate that Ambarella will post $1.89 EPS for the current year.
Ambarella declared that its board has approved a share buyback plan on Tuesday, June 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Leslie Kohn sold 5,973 shares of Ambarella 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 $291,303.21. Following the transaction, the insider now owns 904,530 shares of the company’s stock, valued at $44,113,928.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO George Laplante sold 4,836 shares of Ambarella stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 100,848 shares in the company, valued at approximately $4,918,356.96. The disclosure for this sale can be found here. In the last three months, insiders sold 23,963 shares of company stock worth $1,168,676. Insiders own 5.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AMBA. Victory Capital Management Inc. raised its position in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 1,006 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Ambarella in the first quarter valued at approximately $151,000. FNY Partners Fund LP bought a new position in shares of Ambarella in the first quarter valued at approximately $164,000. Dubuque Bank & Trust Co. raised its position in shares of Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 147 shares during the period. Finally, Amalgamated Bank raised its position in shares of Ambarella by 3.6% in the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 143 shares during the period. 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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