Ambarella (NASDAQ:AMBA) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Several other research analysts also recently weighed in on AMBA. Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 target price on shares of Ambarella in a report on Saturday, September 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, September 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $58.00) on shares of Ambarella in a report on Friday, October 13th. Zacks Investment Research raised shares of Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $60.14.
Ambarella (NASDAQ:AMBA) traded down $1.22 during trading hours on Friday, hitting $51.38. The stock had a trading volume of 1,570,000 shares, compared to its average volume of 998,488. The stock has a market cap of $1,710.00, a price-to-earnings ratio of 49.40, a price-to-earnings-growth ratio of 4.98 and a beta of 1.59. Ambarella has a 52-week low of $40.06 and a 52-week high of $66.23.
In other Ambarella news, Director Christopher B. Paisley sold 2,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $59.23, for a total transaction of $118,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yun-Lung Chen sold 11,340 shares of the 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 directly owns 11,386 shares of the company’s stock, valued at approximately $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 in the last three months. Insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in shares of Ambarella by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 337 shares during the last quarter. Turner Investments LLC bought a new position in shares of Ambarella in the 3rd quarter valued at about $172,000. Amalgamated Bank lifted its holdings in shares of Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after acquiring an additional 143 shares during the last quarter. Aperio Group LLC bought a new position in shares of Ambarella in the 3rd quarter valued at about $213,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Ambarella in the 3rd quarter valued at about $216,000. 63.02% of the stock is owned by institutional investors and hedge funds.
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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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