Ambarella (NASDAQ:AMBA) Stock Rating Upgraded by Wall Street Zen

Ambarella (NASDAQ:AMBA) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (up from $90.00) on shares of Ambarella in a research report on Wednesday, November 26th. BNP Paribas raised shares of Ambarella to a “strong-buy” rating in a research note on Friday, August 29th. Roth Capital reiterated a “neutral” rating on shares of Ambarella in a report on Wednesday, November 26th. Summit Insights raised shares of Ambarella from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, Bank of America increased their target price on Ambarella from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

Ambarella Stock Up 4.3%

Shares of NASDAQ:AMBA opened at $74.10 on Friday. The company has a market cap of $3.16 billion, a P/E ratio of -39.41 and a beta of 1.98. The business has a fifty day simple moving average of $83.31 and a 200-day simple moving average of $73.11. Ambarella has a 52 week low of $38.86 and a 52 week high of $96.69.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. Ambarella had a negative return on equity of 13.14% and a negative net margin of 21.31%.The firm had revenue of $108.45 million for the quarter, compared to the consensus estimate of $104.11 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. Sell-side analysts expect that Ambarella will post -2.81 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Chan W. Lee sold 1,947 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $79.43, for a total value of $154,650.21. Following the completion of the sale, the chief operating officer directly owned 126,972 shares in the company, valued at approximately $10,085,385.96. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Leslie Kohn sold 2,249 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $79.43, for a total value of $178,638.07. Following the completion of the transaction, the chief technology officer directly owned 977,428 shares in the company, valued at $77,637,106.04. This trade represents a 0.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 35,227 shares of company stock worth $2,875,131 in the last quarter. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Stephens Inc. AR raised its stake in shares of Ambarella by 3.7% during the third quarter. Stephens Inc. AR now owns 3,804 shares of the semiconductor company’s stock valued at $314,000 after purchasing an additional 137 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Ambarella by 3.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,537 shares of the semiconductor company’s stock worth $374,000 after buying an additional 142 shares during the period. Arizona State Retirement System lifted its holdings in Ambarella by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 11,899 shares of the semiconductor company’s stock worth $982,000 after buying an additional 157 shares in the last quarter. National Bank of Canada FI boosted its position in Ambarella by 18.9% in the 3rd quarter. National Bank of Canada FI now owns 1,146 shares of the semiconductor company’s stock valued at $95,000 after buying an additional 182 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Ambarella by 4.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the semiconductor company’s stock valued at $275,000 after buying an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.