Ambarella Inc (AMBA) Given Consensus Rating of “Hold” by Brokerages

Ambarella Inc (NASDAQ:AMBA) has received an average rating of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $60.14.

AMBA has been the subject of a number of research reports. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price (up from $58.00) on shares of Ambarella in a research note on Friday, October 13th. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. KeyCorp restated a “hold” rating on shares of Ambarella in a research note on Friday, November 3rd. Morgan Stanley lifted their target price on Ambarella from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $62.00 target price (up from $52.00) on shares of Ambarella in a research note on Wednesday, November 22nd.

In other news, CEO Feng-Ming Wang sold 8,851 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $57.69, for a total transaction of $510,614.19. Following the completion of the transaction, the chief executive officer now directly owns 293,267 shares in the company, valued at $16,918,573.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.23, for a total value of $118,460.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,553 shares of company stock valued at $2,145,108. Insiders own 5.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Ambarella by 5.9% during the second quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock worth $28,894,000 after buying an additional 33,237 shares during the period. ETF Managers Group LLC acquired a new position in shares of Ambarella during the second quarter worth approximately $557,000. Alpine Woods Capital Investors LLC raised its holdings in Ambarella by 21.8% during the third quarter. Alpine Woods Capital Investors LLC now owns 29,100 shares of the semiconductor company’s stock worth $1,426,000 after purchasing an additional 5,200 shares in the last quarter. Northern Trust Corp raised its holdings in Ambarella by 4.5% during the second quarter. Northern Trust Corp now owns 344,807 shares of the semiconductor company’s stock worth $16,741,000 after purchasing an additional 14,710 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in Ambarella during the third quarter worth approximately $1,005,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Ambarella (NASDAQ:AMBA) traded down $1.24 during trading hours on Tuesday, reaching $61.42. The company had a trading volume of 549,075 shares, compared to its average volume of 1,190,000. Ambarella has a fifty-two week low of $40.06 and a fifty-two week high of $66.23. The firm has a market capitalization of $2,050.00, a P/E ratio of 59.06, a price-to-earnings-growth ratio of 6.16 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.87% and a net margin of 11.51%. The company had revenue of $89.06 million during the quarter, compared to the consensus estimate of $89.41 million. During the same period in the previous year, the firm posted $1.11 earnings per share. Ambarella’s quarterly revenue was down 11.4% compared to the same quarter last year. analysts predict that Ambarella will post 0.7 earnings per share for the current year.

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About Ambarella

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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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