Ambarella Inc (NASDAQ:AMBA) Given Average Rating of “Buy” by Analysts

Shares of Ambarella Inc (NASDAQ:AMBA) have received an average rating of “Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.14.

Several research analysts have recently commented on AMBA shares. KeyCorp reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, August 30th. Roth Capital raised their target price on shares of Ambarella from $45.00 to $55.00 in a report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “sell” rating on shares of Ambarella in a report on Friday, August 30th. Morgan Stanley raised their target price on shares of Ambarella from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Cowen reaffirmed an “overweight” rating on shares of Ambarella in a report on Tuesday, September 3rd.

Shares of AMBA stock traded down $3.31 on Thursday, reaching $59.53. The stock had a trading volume of 934,644 shares, compared to its average volume of 599,460. 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’s 50-day moving average is $56.27 and its two-hundred day moving average is $47.89. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -53.63 and a beta of 1.20. Ambarella has a 12 month low of $30.00 and a 12 month high of $67.15.

Ambarella (NASDAQ:AMBA) last issued its earnings results 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. The company had revenue of $56.41 million for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. On average, sell-side analysts forecast that Ambarella will post -1.13 earnings per share for the current fiscal year.

In other Ambarella news, Director Christopher B. Paisley sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $60.00, for a total value of $30,000.00. Following the sale, the director now owns 23,433 shares in the company, valued at $1,405,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yun-Lung Chen sold 5,734 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $64.80, for a total transaction of $371,563.20. Following the completion of the sale, the vice president now owns 23,397 shares in the company, valued at approximately $1,516,125.60. The disclosure for this sale can be found here. Insiders sold 108,190 shares of company stock worth $6,628,959 in the last 90 days. Company insiders own 6.31% of the company’s stock.

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of Ambarella by 13.6% during the second quarter. Wells Fargo & Company MN now owns 88,973 shares of the semiconductor company’s stock worth $3,927,000 after purchasing an additional 10,630 shares during the period. First Mercantile Trust Co. acquired a new position in shares of Ambarella during the second quarter worth $170,000. Belpointe Asset Management LLC acquired a new position in shares of Ambarella during the first quarter worth $119,000. Advisor Group Inc. lifted its holdings in shares of Ambarella by 3.2% during the second quarter. Advisor Group Inc. now owns 15,324 shares of the semiconductor company’s stock worth $675,000 after purchasing an additional 471 shares during the period. Finally, Scout Investments Inc. lifted its holdings in shares of Ambarella by 65.9% during the second quarter. Scout Investments Inc. now owns 118,992 shares of the semiconductor company’s stock worth $5,251,000 after purchasing an additional 47,249 shares during the period. Institutional investors own 73.86% of the company’s stock.

About Ambarella

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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Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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