Ambarella (AMBA) Downgraded to “Sell” at BidaskClub
Ambarella (NASDAQ:AMBA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 price target on shares of Ambarella in a report on Saturday, September 23rd. Oppenheimer upgraded shares of Ambarella from a “market perform” rating to a “buy” rating and set a $70.00 price target for the company in a report on Wednesday, January 3rd. Vetr upgraded shares of Ambarella from a “hold” rating to a “buy” rating and set a $61.51 price target for the company in a report on Tuesday, December 5th. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price target (up previously from $58.00) on shares of Ambarella in a report on Friday, October 13th. Finally, KeyCorp reiterated a “hold” rating on shares of Ambarella in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Ambarella currently has a consensus rating of “Hold” and an average price target of $60.14.
Shares of Ambarella (NASDAQ:AMBA) traded up $0.25 on Friday, hitting $54.92. 947,794 shares of the stock were exchanged, compared to its average volume of 1,320,000. The stock has a market cap of $1,830.00, a P/E ratio of 52.81, a PEG ratio of 5.29 and a beta of 1.59. Ambarella has a 1-year low of $40.06 and a 1-year high of $66.23.
In other Ambarella news, CEO Feng-Ming Wang sold 8,851 shares of the firm’s stock in a transaction dated 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 directly owns 293,267 shares in the company, valued at approximately $16,918,573.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yun-Lung Chen sold 11,340 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were 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 $680,882.80. The disclosure for this sale can be found here. Insiders have sold a total of 36,553 shares of company stock valued at $2,145,108 over the last 90 days. 5.80% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Ambarella by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock worth $104,169,000 after purchasing an additional 60,770 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of 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 purchasing an additional 80,867 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of 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 purchasing an additional 359,417 shares during the last quarter. AXA boosted its stake in shares of Ambarella by 17.8% during the 3rd quarter. AXA now owns 834,078 shares of the semiconductor company’s stock worth $40,878,000 after purchasing an additional 125,972 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Ambarella by 5.9% during the 2nd quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock worth $28,894,000 after purchasing an additional 33,237 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.
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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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