KeyCorp Reiterates Hold Rating for Ambarella, Inc. (AMBA)
Ambarella, Inc. (NASDAQ:AMBA)‘s stock had its “hold” rating reaffirmed by investment analysts at KeyCorp in a research report issued to clients and investors on Friday.
AMBA has been the topic of a number of other research reports. Zacks Investment Research raised Ambarella from a “sell” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Ambarella in a report on Thursday, September 7th. Stifel Nicolaus dropped their price objective on Ambarella from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Canaccord Genuity dropped their price objective on Ambarella from $72.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, September 5th. Finally, Roth Capital cut Ambarella from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $50.00 in a report on Friday, September 1st. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $58.86.
Shares of Ambarella (NASDAQ AMBA) traded up $0.77 on Friday, reaching $55.85. The company had a trading volume of 593,801 shares, compared to its average volume of 897,403. Ambarella has a twelve month low of $40.06 and a twelve month high of $65.78. The stock has a market cap of $1,860.00, a PE ratio of 35.53, a price-to-earnings-growth ratio of 5.83 and a beta of 1.59.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The firm had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $70.79 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. equities analysts forecast that Ambarella will post 0.64 EPS for the current year.
In other news, CEO Feng-Ming Wang sold 11,629 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $46.50, for a total transaction of $540,748.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Leslie Kohn sold 6,467 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $300,715.50. Following the transaction, the insider now owns 907,645 shares in the company, valued at $42,205,492.50. The disclosure for this sale can be found here. Insiders have sold a total of 27,835 shares of company stock worth $1,301,265 over the last quarter. Corporate insiders own 5.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Victory Capital Management Inc. grew its position in Ambarella by 112.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after acquiring an additional 1,006 shares during the last quarter. Dubuque Bank & Trust Co. grew its position in Ambarella by 4.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 147 shares during the last quarter. Amalgamated Bank grew its position in Ambarella by 3.6% during the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 143 shares during the last quarter. Aperio Group LLC bought a new position in Ambarella during the 3rd quarter worth approximately $213,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Ambarella by 17.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock worth $238,000 after acquiring an additional 734 shares during the last quarter. Institutional investors and hedge funds own 56.84% of the company’s stock.
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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