Craig Hallum downgraded shares of Ambarella (NASDAQ:AMBA – Free Report) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat Ratings reports. The firm currently has $70.00 target price on the semiconductor company’s stock.
Other research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating on shares of Ambarella in a research report on Friday. Consumer Edge restated a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price objective on shares of Ambarella in a report on Monday, August 31st. Northland Securities set a $101.00 price objective on Ambarella in a research report on Wednesday, June 17th. Finally, Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.56.
Get Our Latest Stock Analysis on AMBA
Ambarella Stock Performance
Ambarella (NASDAQ:AMBA – Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $108.12 million for the quarter, compared to analysts’ expectations of $107.76 million. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.12%. Ambarella’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. As a group, analysts predict that Ambarella will post -1.13 earnings per share for the current year.
Insider Buying and Selling at Ambarella
In other Ambarella news, insider Chan Lee sold 2,951 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $67.87, for a total value of $200,284.37. Following the transaction, the insider owned 157,098 shares in the company, valued at approximately $10,662,241.26. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 16,250 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $90.08, for a total transaction of $1,463,800.00. Following the transaction, the chief executive officer directly owned 773,607 shares of the company’s stock, valued at approximately $69,686,518.56. This trade represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,519 shares of company stock worth $4,595,475 over the last ninety days. 4.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ambarella
Several institutional investors and hedge funds have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Ambarella in the 2nd quarter worth approximately $232,000. California State Teachers Retirement System raised its holdings in shares of Ambarella by 8,490.9% during the second quarter. California State Teachers Retirement System now owns 4,116,598 shares of the semiconductor company’s stock valued at $353,204,000 after acquiring an additional 4,068,680 shares in the last quarter. Greenland Capital Management LP bought a new position in shares of Ambarella during the second quarter valued at approximately $433,000. Readystate Asset Management LP purchased a new stake in Ambarella in the second quarter worth $307,000. Finally, Odyssean LLC purchased a new stake in Ambarella in the second quarter worth $2,247,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.
Key Headlines Impacting Ambarella
Here are the key news stories impacting Ambarella this week:
- Positive Sentiment: Ambarella reported fiscal Q2 revenue of $108.1 million, up 13.2% year over year and slightly above estimates, while non-GAAP EPS of $0.18 exceeded consensus. The company also forecast fiscal Q3 revenue of $115 million to $124 million, broadly in line with expectations. Ambarella fiscal Q2 results
- Positive Sentiment: Management highlighted record edge-AI revenue and announced long-term agreements with Macnica and Capgemini. The partnerships could expand distribution, systems integration, and enterprise adoption of Ambarella’s edge and physical AI products. Macnica strategic agreement
- Positive Sentiment: Stifel Nicolaus maintained a Buy rating and sees substantial potential appreciation despite reducing its price target from $106 to $90. Stifel price target update
About Ambarella
Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.
Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.
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