ValuEngine upgraded shares of Ambarella, Inc. (NASDAQ:AMBA) from a sell rating to a hold rating in a report published on Friday.
Other research analysts also recently issued research reports about the company. Craig Hallum downgraded Ambarella from a buy rating to a hold rating and set a $50.00 target price on the stock. in a report on Friday, September 1st. Needham & Company LLC reaffirmed a hold rating on shares of Ambarella in a report on Friday, June 9th. Stifel Nicolaus reaffirmed a buy rating and set a $64.00 target price (down previously from $65.00) on shares of Ambarella in a report on Thursday, June 1st. Canaccord Genuity reaffirmed a buy rating and set a $72.00 target price on shares of Ambarella in a report on Wednesday, June 7th. Finally, Zacks Investment Research downgraded Ambarella from a hold rating to a sell rating in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $58.23.
Ambarella (AMBA) opened at 44.59 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 26.35 and a beta of 1.60. The firm’s 50-day moving average price is $50.13 and its 200 day moving average price is $53.64. Ambarella has a 52-week low of $40.06 and a 52-week high of $74.95.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Ambarella had a return on equity of 11.97% and a net margin of 16.45%. The company had revenue of $71.63 million for the quarter, compared to the consensus estimate of $70.79 million. During the same quarter last year, the business posted $0.54 EPS. Ambarella’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that Ambarella will post $1.89 EPS for the current year.
Ambarella announced that its board has approved a stock repurchase plan on Tuesday, June 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Leslie Kohn sold 5,973 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $291,303.21. Following the sale, the insider now directly owns 904,530 shares in the company, valued at approximately $44,113,928.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO George Laplante sold 4,836 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $235,851.72. Following the completion of the sale, the chief financial officer now owns 100,848 shares in the company, valued at $4,918,356.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,963 shares of company stock worth $1,168,676. 5.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Janney Montgomery Scott LLC increased its position in Ambarella by 8.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,173 shares of the semiconductor company’s stock valued at $447,000 after acquiring an additional 639 shares during the period. Wells Fargo & Company MN increased its position in Ambarella by 1.2% in the 1st quarter. Wells Fargo & Company MN now owns 77,776 shares of the semiconductor company’s stock valued at $4,255,000 after acquiring an additional 928 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in Ambarella in the 1st quarter valued at approximately $635,000. Bank of New York Mellon Corp increased its position in Ambarella by 8.0% in the 1st quarter. Bank of New York Mellon Corp now owns 112,376 shares of the semiconductor company’s stock valued at $6,147,000 after acquiring an additional 8,366 shares during the period. Finally, Swiss National Bank increased its position in Ambarella by 1.3% in the 1st quarter. Swiss National Bank now owns 54,333 shares of the semiconductor company’s stock valued at $2,973,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 56.74% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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