Ambarella (NASDAQ:AMBA) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $70.00 price objective on the semiconductor company’s stock. Oppenheimer’s target price would indicate a potential upside of 12.31% from the stock’s previous close.

Several other research analysts have also recently issued reports on AMBA. Zacks Investment Research raised shares of Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a report on Friday, December 1st. Canaccord Genuity reissued a “buy” rating and set a $65.00 price objective (up from $58.00) on shares of Ambarella in a report on Friday, October 13th. KeyCorp reissued a “hold” rating on shares of Ambarella in a report on Friday, November 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Ambarella in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Ambarella has an average rating of “Hold” and a consensus target price of $60.14.

Shares of Ambarella (NASDAQ:AMBA) traded up $3.58 on Wednesday, hitting $62.33. 1,112,200 shares of the stock were exchanged, compared to its average volume of 964,000. The company has a market cap of $2,180.00, a price-to-earnings ratio of 59.93, a price-to-earnings-growth ratio of 5.69 and a beta of 1.59. Ambarella has a 52-week low of $40.06 and a 52-week high of $65.39.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm 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 7.87%. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 EPS. analysts expect that Ambarella will post 0.7 earnings per share for the current year.

In related news, CEO Feng-Ming Wang sold 8,851 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $57.69, for a total transaction of $510,614.19. Following the completion of the transaction, the chief executive officer now owns 293,267 shares in the company, valued at $16,918,573.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Yun-Lung Chen sold 11,340 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $59.80, for a total transaction of $678,132.00. Following the transaction, the vice president now owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,118 shares of company stock valued at $1,879,895. Company insiders own 5.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 60,770 shares during the period. Van Berkom & Associates Inc. raised its stake in shares of Ambarella by 6.5% in the third quarter. Van Berkom & Associates Inc. now owns 1,316,350 shares of the semiconductor company’s stock valued at $64,514,000 after acquiring an additional 80,867 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Ambarella by 54.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock valued at $49,720,000 after acquiring an additional 359,417 shares during the period. AXA increased its stake in Ambarella by 17.8% in the 3rd quarter. AXA now owns 834,078 shares of the semiconductor company’s stock worth $40,878,000 after buying an additional 125,972 shares during the period. Finally, State Street Corp increased its stake in Ambarella by 5.9% in the 2nd quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock worth $28,894,000 after buying an additional 33,237 shares during the period. 63.01% of the stock is currently owned by institutional investors.

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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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