Morgan Stanley set a $60.00 price target on Ambarella (NASDAQ:AMBA) in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the semiconductor company’s stock.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Ambarella from a hold rating to a buy rating and set a $62.00 target price for the company in a research note on Thursday, September 5th. Craig Hallum set a $62.00 target price on shares of Ambarella and gave the company a buy rating in a research note on Friday, August 30th. Dougherty & Co set a $59.00 target price on shares of Ambarella and gave the company a buy rating in a research note on Friday, August 30th. BidaskClub cut shares of Ambarella from a buy rating to a hold rating in a research note on Wednesday. Finally, Northland Securities set a $59.00 target price on shares of Ambarella and gave the company a buy rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $59.56.
AMBA traded up $1.22 during trading on Tuesday, hitting $53.60. 614,723 shares of the company traded hands, compared to its average volume of 627,089. The company has a market cap of $1.71 billion, a PE ratio of -48.29 and a beta of 1.31. The stock’s 50-day simple moving average is $58.11 and its two-hundred day simple moving average is $48.44. Ambarella has a 1 year low of $30.00 and a 1 year high of $67.15. The company has a current ratio of 9.01, a quick ratio of 8.64 and a debt-to-equity ratio of 0.01.
Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, August 29th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. The company had revenue of $56.41 million during the quarter, compared to analysts’ expectations of $52.00 million. Ambarella had a negative net margin of 19.38% and a negative return on equity of 10.82%. Ambarella’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Equities analysts expect that Ambarella will post -1.16 EPS for the current year.
In other Ambarella news, VP Christopher Day sold 3,478 shares of Ambarella stock in a transaction on Monday, September 30th. The shares were sold at an average price of $62.82, for a total value of $218,487.96. Following the completion of the transaction, the vice president now directly owns 8,305 shares of the company’s stock, valued at approximately $521,720.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Feng-Ming Wang sold 60,000 shares of Ambarella stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $59.18, for a total transaction of $3,550,800.00. Following the completion of the transaction, the chief executive officer now directly owns 514,944 shares of the company’s stock, valued at $30,474,385.92. The disclosure for this sale can be found here. Insiders sold a total of 108,190 shares of company stock valued at $6,628,959 over the last three months. Corporate insiders own 6.31% of the company’s stock.
Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in shares of Ambarella in the 2nd quarter worth about $47,000. Captrust Financial Advisors bought a new stake in shares of Ambarella in the 2nd quarter worth about $79,000. Aperio Group LLC bought a new stake in shares of Ambarella in the 2nd quarter worth about $89,000. Belpointe Asset Management LLC bought a new stake in shares of Ambarella in the 1st quarter worth about $119,000. Finally, Bank of Montreal Can lifted its holdings in shares of Ambarella by 1,338.5% in the 2nd quarter. Bank of Montreal Can now owns 2,877 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 2,677 shares during the last quarter. 73.86% of the stock is owned by institutional investors and hedge funds.
Ambarella Company Profile
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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