A number of other research analysts have also commented on AMBA. Morgan Stanley reiterated a buy rating and issued a $78.00 price objective on shares of Ambarella in a research report on Friday, September 2nd. Zacks Investment Research raised Ambarella from a hold rating to a buy rating and set a $61.00 price target on the stock in a research note on Tuesday, July 12th. Pacific Crest reissued a buy rating on shares of Ambarella in a research note on Friday, September 2nd. Vetr downgraded Ambarella from a strong-buy rating to a buy rating and set a $54.74 price target on the stock. in a research note on Wednesday, June 15th. Finally, KeyCorp increased their price target on Ambarella from $53.00 to $75.00 and gave the company an overweight rating in a research note on Tuesday, August 30th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $70.03.
Ambarella (NASDAQ:AMBA) opened at 62.74 on Wednesday. The stock has a market cap of $2.05 billion, a P/E ratio of 47.24 and a beta of 1.50. The stock’s 50 day moving average price is $68.23 and its 200-day moving average price is $54.55. Ambarella has a one year low of $33.39 and a one year high of $74.95.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.16. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $64.02 million. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. On average, analysts predict that Ambarella will post $2.64 earnings per share for the current year.
In other news, CEO Feng-Ming Wang sold 9,573 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $67.98, for a total value of $650,772.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director now owns 10,014 shares of the company’s stock, valued at approximately $692,267.82. The disclosure for this sale can be found here. 5.43% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in AMBA. Credit Agricole S A boosted its position in shares of Ambarella by 42.9% in the first quarter. Credit Agricole S A now owns 17,000 shares of the company’s stock valued at $760,000 after buying an additional 5,100 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in Ambarella by 80.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,250 shares of the company’s stock worth $637,000 after buying an additional 6,350 shares during the last quarter. Geode Capital Management LLC boosted its position in Ambarella by 10.5% in the first quarter. Geode Capital Management LLC now owns 46,225 shares of the company’s stock worth $2,066,000 after buying an additional 4,408 shares during the last quarter. Stanley Capital Management LLC acquired a new position in Ambarella during the first quarter worth approximately $2,569,000. Finally, Seven Eight Capital LLC boosted its position in Ambarella by 528,800.0% in the first quarter. Seven Eight Capital LLC now owns 5,289 shares of the company’s stock worth $236,000 after buying an additional 5,288 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.
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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