Ambarella, Inc. (AMBA) Stock Rating Reaffirmed by Canaccord Genuity

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.

TRADEMARK VIOLATION WARNING: “Ambarella, Inc. (AMBA) Stock Rating Reaffirmed by Canaccord Genuity” was reported by Stock Observer and is owned by of Stock Observer. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://www.thestockobserver.com/2017/10/13/ambarella-inc-amba-price-target-increased-to-65-00-by-analysts-at-canaccord-genuity.html.

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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

Receive News & Ratings for Ambarella Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambarella Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply