Roth Capital initiated coverage on shares of Ambarella Inc. (NASDAQ:AMBA) in a research report sent to investors on Wednesday morning. The firm issued a buy rating and a $80.00 target price on the stock.
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Ambarella from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Tuesday, July 12th. Vetr downgraded shares of Ambarella from a strong-buy rating to a buy rating and set a $54.74 price target on the stock. in a research report on Wednesday, June 15th. Morgan Stanley reissued a buy rating and issued a $55.00 price objective on shares of Ambarella in a research note on Saturday, June 4th. Canaccord Genuity reissued a buy rating and issued a $65.00 price objective on shares of Ambarella in a research note on Tuesday, May 31st. Finally, Stifel Nicolaus reissued a buy rating and issued a $86.00 price objective on shares of Ambarella in a research note on Thursday, August 25th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $69.31.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The business had revenue of $65.10 million for the quarter, compared to the consensus estimate of $64.02 million. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was down 22.7% on a year-over-year basis.
In other news, Director Christopher B. Paisley sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $69.13, for a total value of $69,130.00. Following the completion of the sale, the director now owns 10,014 shares in the company, valued at approximately $692,267.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 6,138 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $68.02, for a total transaction of $417,506.76. Following the completion of the sale, the vice president now owns 25,997 shares of the company’s stock, valued at approximately $1,768,315.94. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Smithfield Trust Co. raised its stake in Ambarella by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,000 shares of the company’s stock valued at $102,000 after buying an additional 1,000 shares during the period. Penserra Capital Management LLC raised its stake in shares of Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock worth $106,000 after buying an additional 316 shares during the last quarter. US Bancorp DE raised its stake in shares of Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock worth $107,000 after buying an additional 197 shares during the last quarter. First Interstate Bank raised its stake in shares of Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock worth $110,000 after buying an additional 88 shares during the last quarter. Finally, FTB Advisors Inc. bought a new stake in shares of Ambarella during the second quarter worth $112,000. Hedge funds and other institutional investors own 51.33% 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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