Needham & Company LLC Reaffirms Hold Rating for Ambarella (AMBA)

Ambarella (NASDAQ:AMBA)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Friday.

Several other research firms have also recently commented on AMBA. ValuEngine raised Ambarella from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Dougherty & Co cut their price target on Ambarella from $75.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Ambarella in a report on Wednesday, September 27th. Deutsche Bank reissued a “hold” rating and set a $49.00 target price (down previously from $54.00) on shares of Ambarella in a research note on Friday, September 1st. Finally, Roth Capital reissued a “buy” rating and set a $65.00 target price on shares of Ambarella in a research note on Thursday, August 31st. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $58.75.

Ambarella (NASDAQ:AMBA) traded down $0.19 during midday trading on Friday, hitting $54.27. The stock had a trading volume of 1,678,100 shares, compared to its average volume of 1,005,034. Ambarella has a 1-year low of $40.06 and a 1-year high of $65.39. The stock has a market capitalization of $2,120.00, a P/E ratio of 35.88, a PEG ratio of 5.89 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The firm had revenue of $89.06 million during the quarter, compared to analysts’ expectations of $89.41 million. During the same quarter last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. research analysts forecast that Ambarella will post 0.64 earnings per share for the current fiscal year.

In related news, CEO Feng-Ming Wang sold 11,629 shares of Ambarella stock in a transaction on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $540,748.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 1,529 shares of Ambarella stock in a transaction on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $71,098.50. The disclosure for this sale can be found here. Insiders sold 27,835 shares of company stock valued at $1,301,265 over the last ninety days. Insiders own 5.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Ambarella by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock valued at $104,169,000 after purchasing an additional 60,770 shares during the period. Van Berkom & Associates Inc. lifted its holdings in Ambarella by 6.5% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,316,350 shares of the semiconductor company’s stock worth $64,514,000 after buying an additional 80,867 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Ambarella by 36.2% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock worth $55,949,000 after buying an additional 306,248 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Ambarella by 54.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock worth $49,720,000 after buying an additional 359,417 shares during the last quarter. Finally, AXA lifted its holdings in Ambarella by 100.6% during the 2nd quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after buying an additional 355,170 shares during the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.

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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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