Ambarella, Inc. (NASDAQ:AMBA)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a report released on Friday. They currently have a $65.00 price objective on the semiconductor company’s stock, up from their previous price objective of $58.00. Canaccord Genuity’s target price indicates a potential upside of 26.31% from the company’s current price.
Several other equities research analysts have also commented on the stock. Craig Hallum lowered shares of Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Ambarella in a report on Friday, September 1st. Zacks Investment Research lowered shares of Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Morgan Stanley reissued an “overweight” rating and issued a $60.00 target price on shares of Ambarella in a report on Thursday, September 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $52.00 target price (down from $64.00) on shares of Ambarella in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Ambarella presently has a consensus rating of “Hold” and an average target price of $58.86.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The firm had revenue of $71.63 million during the quarter, compared to analyst estimates of $70.79 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year.
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In other Ambarella news, CEO Feng-Ming Wang sold 11,629 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $540,748.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 2,618 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $49.15, for a total value of $128,674.70. Following the completion of the transaction, the vice president now owns 20,377 shares of the company’s stock, valued at $1,001,529.55. The disclosure for this sale can be found here. Insiders sold a total of 27,835 shares of company stock valued at $1,301,265 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Oak Associates Ltd. OH boosted its stake in Ambarella by 12.0% in the 2nd quarter. Oak Associates Ltd. OH now owns 24,070 shares of the semiconductor company’s stock worth $1,169,000 after purchasing an additional 2,575 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Ambarella by 17.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock worth $238,000 after purchasing an additional 734 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Ambarella by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,951 shares of the semiconductor company’s stock worth $1,212,000 after purchasing an additional 376 shares during the period. State Street Corp boosted its stake in Ambarella by 5.9% in the 2nd quarter. State Street Corp now owns 595,044 shares of the semiconductor company’s stock worth $28,894,000 after purchasing an additional 33,237 shares during the period. Finally, ETF Managers Group LLC bought a new position in Ambarella in the 2nd quarter worth approximately $557,000. Institutional investors and hedge funds own 57.06% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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