Ambarella, Inc. (NASDAQ:AMBA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ambarella, Inc. (NASDAQ:AMBA) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $74.09.

Several equities analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Craig Hallum upped their price objective on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Westpark Capital reissued a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. Finally, Bank of America boosted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th.

Insider Buying and Selling at Ambarella

In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher Day sold 483 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the sale, the vice president now owns 21,370 shares of the company’s stock, valued at $1,144,149.80. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. grew its stake in Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after acquiring an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares in the last quarter. Barclays PLC grew its position in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after purchasing an additional 286,296 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after purchasing an additional 250,778 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Price Performance

Shares of AMBA opened at $63.62 on Wednesday. The company’s fifty day moving average price is $57.67 and its 200-day moving average price is $54.52. The firm has a market capitalization of $2.63 billion, a PE ratio of -14.73 and a beta of 1.63. Ambarella has a 1-year low of $39.69 and a 1-year high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the firm posted ($0.76) EPS. Ambarella’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Ambarella will post -3 EPS for the current fiscal year.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.