Ambarella (NASDAQ:AMBA) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $61.51 target price on the semiconductor company’s stock. Vetr‘s target price suggests a potential upside of 6.84% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Ambarella in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target (up from $52.00) on shares of Ambarella in a report on Wednesday, November 22nd. KeyCorp reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $58.65.

Ambarella (NASDAQ:AMBA) traded down $1.76 during mid-day trading on Tuesday, reaching $57.57. 1,432,167 shares of the company’s stock traded hands, compared to its average volume of 1,045,829. The company has a market cap of $1,960.00, a price-to-earnings ratio of 59.08, a P/E/G ratio of 6.57 and a beta of 1.57. Ambarella has a 52-week low of $40.06 and a 52-week high of $65.39.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $89.06 million for the quarter, compared to analyst estimates of $89.41 million. Ambarella had a net margin of 11.51% and a return on equity of 7.92%. The firm’s revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. analysts anticipate that Ambarella will post 0.64 earnings per share for the current fiscal year.

In related news, VP Christopher Day sold 2,618 shares of Ambarella stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $49.15, for a total transaction of $128,674.70. Following the sale, the vice president now directly owns 20,377 shares in the company, valued at approximately $1,001,529.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leslie Kohn sold 6,467 shares of Ambarella stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $46.50, for a total transaction of $300,715.50. Following the sale, 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. Over the last quarter, insiders have sold 27,835 shares of company stock worth $1,301,265. 5.80% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in Ambarella by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after buying an additional 337 shares during the period. Turner Investments LLC acquired a new stake in Ambarella during the 3rd quarter worth approximately $172,000. Amalgamated Bank boosted 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 buying an additional 143 shares during the period. Aperio Group LLC acquired a new stake in Ambarella during the 3rd quarter worth approximately $213,000. Finally, Belpointe Asset Management LLC acquired a new stake in Ambarella during the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 63.21% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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