Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $60.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 30.01% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Bank of America upped their price objective on shares of Ambarella from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 3rd. Stifel Nicolaus boosted their price objective on Ambarella from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Robert W. Baird initiated coverage on Ambarella in a report on Thursday, May 28th. They issued a “neutral” rating and a $60.00 target price for the company. Needham & Company LLC raised Ambarella from an “underperform” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, July 7th. Finally, Craig Hallum dropped their price objective on shares of Ambarella from $68.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.43.
AMBA traded down $0.91 on Thursday, hitting $46.15. 24,434 shares of the company were exchanged, compared to its average volume of 292,040. The company has a market cap of $1.57 billion, a PE ratio of -36.05 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.48 and a current ratio of 8.91. The stock’s fifty day moving average is $46.17 and its 200-day moving average is $51.50. Ambarella has a 12 month low of $36.02 and a 12 month high of $73.59.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, June 2nd. The semiconductor company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The firm had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $54.32 million. Ambarella had a negative return on equity of 9.00% and a negative net margin of 18.18%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. As a group, equities research analysts expect that Ambarella will post -1.52 EPS for the current fiscal year.
In other news, Director David Jeffrey Richardson sold 7,453 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $54.92, for a total transaction of $409,318.76. Following the transaction, the director now owns 9,046 shares in the company, valued at $496,806.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yun-Lung Chen sold 5,555 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $55.82, for a total transaction of $310,080.10. Following the transaction, the vice president now directly owns 42,561 shares in the company, valued at approximately $2,375,755.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,775 shares of company stock worth $859,585. 5.69% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP grew its position in Ambarella by 945.6% in the 2nd quarter. Engineers Gate Manager LP now owns 44,469 shares of the semiconductor company’s stock valued at $2,037,000 after purchasing an additional 40,216 shares during the period. California State Teachers Retirement System increased its position in shares of Ambarella by 0.6% during the second quarter. California State Teachers Retirement System now owns 49,488 shares of the semiconductor company’s stock worth $2,267,000 after acquiring an additional 299 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Ambarella by 9.2% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 300,143 shares of the semiconductor company’s stock worth $13,747,000 after acquiring an additional 25,208 shares during the last quarter. Sei Investments Co. lifted its position in Ambarella by 23.4% in the 2nd quarter. Sei Investments Co. now owns 17,784 shares of the semiconductor company’s stock valued at $826,000 after acquiring an additional 3,375 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in Ambarella during the 2nd quarter valued at about $27,000. Institutional investors own 75.03% of the company’s stock.
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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