Ambarella (NASDAQ:AMBA) was upgraded by stock analysts at Needham & Company LLC to a "buy" rating in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports. The brokerage presently has a $55.00 price objective on the semiconductor company's stock. Needham & Company LLC's price objective points to a potential upside of 21.65% from the company's previous close.
A number of other brokerages have also weighed in on AMBA. Bank of America lifted their price target on shares of Ambarella from $44.00 to $50.00 and gave the company an "underperform" rating in a report on Wednesday, June 3rd. Craig Hallum reduced their target price on shares of Ambarella from $68.00 to $60.00 and set a "hold" rating on the stock in a report on Thursday, May 28th. ValuEngine lowered shares of Ambarella from a "buy" rating to a "hold" rating in a report on Thursday, July 2nd. Roth Capital reduced their target price on shares of Ambarella from $65.00 to $50.00 and set a "neutral" rating on the stock in a report on Friday, June 26th. Finally, Stifel Nicolaus lifted their target price on shares of Ambarella from $60.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Ambarella has a consensus rating of "Hold" and an average target price of $59.43.
Shares of AMBA opened at $45.21 on Tuesday. The firm has a market cap of $1.55 billion, a PE ratio of -35.32 and a beta of 1.26. The company's fifty day moving average is $51.92 and its two-hundred day moving average is $54.71. Ambarella has a fifty-two week low of $36.02 and a fifty-two week high of $73.59. The company has a quick ratio of 8.48, a current ratio of 8.91 and a debt-to-equity ratio of 0.02.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, June 2nd. The semiconductor company reported $0.04 earnings per share for the quarter, beating the Zacks' consensus estimate of ($0.01) by $0.05. The company had revenue of $54.60 million for the quarter, compared to analyst estimates of $54.32 million. Ambarella had a negative net margin of 18.18% and a negative return on equity of 9.00%. Ambarella's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.01 EPS. As a group, equities research analysts anticipate that Ambarella will post -1.52 earnings per share for the current year.
In other news, Director David Jeffrey Richardson sold 7,453 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $54.92, for a total value of $409,318.76. Following the completion of the sale, the director now owns 9,046 shares of the company's stock, valued at approximately $496,806.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yun-Lung Chen sold 5,555 shares of the business's 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 completion of the sale, the vice president now directly owns 42,561 shares of the company's stock, valued at approximately $2,375,755.02. The disclosure for this sale can be found here. Insiders sold a total of 15,775 shares of company stock worth $859,585 in the last quarter. 5.69% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in shares of Ambarella by 5.9% during the 1st quarter. First Trust Advisors LP now owns 16,783 shares of the semiconductor company's stock valued at $725,000 after buying an additional 935 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Ambarella by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,826 shares of the semiconductor company's stock valued at $353,000 after buying an additional 227 shares during the last quarter. Bank of Montreal Can grew its position in shares of Ambarella by 40.2% during the 4th quarter. Bank of Montreal Can now owns 4,193 shares of the semiconductor company's stock valued at $254,000 after buying an additional 1,202 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Ambarella during the 4th quarter valued at about $2,389,000. Finally, ProShare Advisors LLC grew its position in shares of Ambarella by 19.0% during the 4th quarter. ProShare Advisors LLC now owns 4,282 shares of the semiconductor company's stock valued at $259,000 after buying an additional 684 shares during the last quarter. 75.11% of the stock is owned by institutional investors.
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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