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.

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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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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