Ambarella (NASDAQ:AMBA)‘s stock had its “hold” rating reissued by equities researchers at KeyCorp in a research report issued to clients and investors on Tuesday, TipRanks reports.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Ambarella from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday, September 5th. Stifel Nicolaus started coverage on Ambarella in a research report on Friday, October 4th. They set a “hold” rating and a $61.00 target price for the company. Bank of America set a $50.00 target price on Ambarella and gave the company a “sell” rating in a research report on Friday, August 30th. TheStreet raised Ambarella from a “d+” rating to a “c-” rating in a research report on Tuesday, September 10th. Finally, Craig Hallum set a $62.00 target price on Ambarella and gave the company a “buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.56.
AMBA traded up $0.64 during trading hours on Tuesday, reaching $54.24. 23,768 shares of the company’s stock traded hands, compared to its average volume of 987,615. The firm has a 50-day moving average price of $59.12 and a 200 day moving average price of $48.78. Ambarella has a 52-week low of $30.00 and a 52-week high of $67.15. The company has a quick ratio of 8.64, a current ratio of 9.01 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.75 billion, a PE ratio of -48.72 and a beta of 1.31.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, August 29th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.05. Ambarella had a negative return on equity of 10.82% and a negative net margin of 19.38%. The company had revenue of $56.41 million during the quarter, compared to analysts’ expectations of $52.00 million. During the same quarter in the previous year, the business earned $0.25 EPS. Ambarella’s revenue was down 9.7% compared to the same quarter last year. Equities analysts predict that Ambarella will post -1.16 EPS for the current fiscal year.
In other Ambarella news, Director Christopher B. Paisley sold 500 shares of Ambarella stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $60.00, for a total transaction of $30,000.00. Following the completion of the sale, the director now directly owns 23,433 shares of the company’s stock, valued at approximately $1,405,980. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Yun-Lung Chen sold 5,734 shares of Ambarella stock in a transaction on Monday, September 9th. The shares were sold at an average price of $64.80, for a total value of $371,563.20. Following the sale, the vice president now directly owns 23,397 shares of the company’s stock, valued at $1,516,125.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,190 shares of company stock valued at $6,628,959. 6.31% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMBA. Morgan Stanley raised its position in shares of Ambarella by 70.9% in the 2nd quarter. Morgan Stanley now owns 1,511,861 shares of the semiconductor company’s stock worth $66,718,000 after acquiring an additional 627,318 shares in the last quarter. BlackRock Inc. raised its position in shares of Ambarella by 25.6% in the 2nd quarter. BlackRock Inc. now owns 1,938,836 shares of the semiconductor company’s stock worth $85,561,000 after acquiring an additional 394,967 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of Ambarella in the 2nd quarter worth $13,819,000. D. E. Shaw & Co. Inc. raised its position in shares of Ambarella by 1,164.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 257,492 shares of the semiconductor company’s stock worth $11,364,000 after acquiring an additional 281,692 shares in the last quarter. Finally, Waddell & Reed Financial Inc. bought a new position in shares of Ambarella in the 2nd quarter worth $11,999,000. 73.83% of the stock is owned by institutional investors and hedge funds.
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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