Ambarella (NASDAQ:AMBA) Reaches New 12-Month Low After Analyst Downgrade

Ambarella, Inc. (NASDAQ:AMBA) hit a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $62.00 to $50.00. Bank of America currently has an underperform rating on the stock. Ambarella traded as low as $43.23 and last traded at $43.66, with a volume of 494610 shares traded. The stock had previously closed at $44.49.

AMBA has been the subject of several other research reports. Wells Fargo & Company lowered shares of Ambarella from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, January 3rd. Susquehanna lifted their price objective on shares of Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Morgan Stanley lifted their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Ambarella to a “sell” rating in a research note on Saturday, April 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.08.

Insiders Place Their Bets

In other Ambarella news, CTO Leslie Kohn sold 1,198 shares of Ambarella stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $59,025.46. Following the transaction, the chief technology officer now directly owns 964,664 shares of the company’s stock, valued at approximately $47,528,995.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Leslie Kohn sold 1,198 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $59,025.46. Following the transaction, the chief technology officer now directly owns 964,664 shares of the company’s stock, valued at approximately $47,528,995.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Chan W. Lee sold 1,075 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the completion of the transaction, the chief operating officer now directly owns 124,146 shares in the company, valued at $6,116,673.42. The disclosure for this sale can be found here. Insiders have sold 6,648 shares of company stock valued at $327,595 in the last three months. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in Ambarella by 79.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,272 shares of the semiconductor company’s stock valued at $522,000 after purchasing an additional 4,555 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Ambarella during the first quarter valued at about $277,000. Vanguard Group Inc. lifted its holdings in Ambarella by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock valued at $250,831,000 after purchasing an additional 69,864 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Ambarella during the fourth quarter valued at about $239,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Ambarella by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,073 shares of the semiconductor company’s stock valued at $1,169,000 after purchasing an additional 1,219 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Price Performance

The firm has a market capitalization of $1.79 billion, a PE ratio of -10.30 and a beta of 1.66. The company’s fifty day simple moving average is $52.33 and its 200 day simple moving average is $54.09.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, February 27th. The semiconductor company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.03. The business had revenue of $51.62 million for the quarter, compared to the consensus estimate of $51.68 million. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. On average, analysts anticipate that Ambarella, Inc. will post -3.53 earnings per share for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.