Ambarella, Inc. (NASDAQ:AMBA) Given Average Recommendation of "Buy" by Analysts

Last updated on Saturday, June 12, 2021 | 2021 MarketBeat

Shares of Ambarella, Inc. (NASDAQ:AMBA) have been given a consensus recommendation of "Buy" by the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $113.77.

AMBA has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Ambarella from a "sell" rating to a "hold" rating and set a $130.00 price objective for the company in a research note on Friday, February 19th. Wells Fargo & Company assumed coverage on shares of Ambarella in a research note on Monday, March 22nd. They set an "equal weight" rating and a $110.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ambarella from $75.00 to $100.00 and gave the company a "hold" rating in a research note on Wednesday, February 24th. Needham & Company LLC boosted their target price on shares of Ambarella from $80.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, March 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Ambarella from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, June 2nd.

In related news, Director Christopher B. Paisley sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $97.70, for a total transaction of $146,550.00. Following the sale, the director now directly owns 30,092 shares of the company's stock, valued at approximately $2,939,988.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher Day sold 5,616 shares of the firm's stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $112.00, for a total transaction of $628,992.00. The disclosure for this sale can be found here. Insiders sold 74,672 shares of company stock valued at $8,341,814 over the last quarter. 5.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMBA. Principal Financial Group Inc. raised its position in Ambarella by 3,702.2% in the 1st quarter. Principal Financial Group Inc. now owns 429,728 shares of the semiconductor company's stock valued at $43,140,000 after purchasing an additional 418,426 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ambarella in the first quarter valued at approximately $1,115,000. KCL Capital L.P. raised its holdings in Ambarella by 13.1% in the first quarter. KCL Capital L.P. now owns 254,533 shares of the semiconductor company's stock valued at $25,553,000 after acquiring an additional 29,533 shares in the last quarter. Paloma Partners Management Co lifted its stake in Ambarella by 43.1% in the first quarter. Paloma Partners Management Co now owns 6,381 shares of the semiconductor company's stock worth $641,000 after acquiring an additional 1,921 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Ambarella by 167.9% during the 1st quarter. Voloridge Investment Management LLC now owns 171,612 shares of the semiconductor company's stock worth $17,228,000 after acquiring an additional 107,542 shares in the last quarter. Institutional investors own 76.83% of the company's stock.

AMBA stock opened at $101.12 on Friday. The firm has a fifty day simple moving average of $97.77. Ambarella has a fifty-two week low of $43.69 and a fifty-two week high of $137.21. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -64.41 and a beta of 1.38.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Monday, May 31st. The semiconductor company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Ambarella had a negative net margin of 23.12% and a negative return on equity of 11.79%. The firm had revenue of $70.10 million during the quarter, compared to analyst estimates of $68.64 million. During the same period last year, the firm posted $0.04 earnings per share. Ambarella's revenue for the quarter was up 28.4% compared to the same quarter last year. Sell-side analysts expect that Ambarella will post -0.79 EPS for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.

Further Reading: P/E Growth (PEG)

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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