Ambarella Inc. (AMBA) Given “Hold” Rating at Deutsche Bank AG
AMBA has been the subject of a number of other reports. Needham & Company LLC reiterated a neutral rating on shares of Ambarella in a research report on Friday, June 3rd. Vetr lowered Ambarella from a sell rating to a strong sell rating and set a $61.77 price objective for the company. in a research report on Tuesday, August 30th. Zacks Investment Research lowered Ambarella from a buy rating to a hold rating in a research report on Tuesday, July 26th. Canaccord Genuity lifted their price objective on Ambarella from $85.00 to $86.00 and gave the stock a buy rating in a research report on Wednesday, August 31st. Finally, Pacific Crest reiterated a buy rating on shares of Ambarella in a research report on Friday, September 2nd. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $68.26.
Shares of Ambarella (NASDAQ:AMBA) opened at 68.20 on Friday. The firm has a market capitalization of $2.23 billion, a P/E ratio of 51.36 and a beta of 1.49. Ambarella has a one year low of $33.39 and a one year high of $75.53. The firm has a 50-day moving average of $64.18 and a 200-day moving average of $49.99.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.16. The company earned $65.10 million during 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 firm’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, equities analysts predict that Ambarella will post $2.64 earnings per share for the current fiscal year.
In other Ambarella news, VP Christopher Day sold 1,173 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $50.85, for a total transaction of $59,647.05. Following the transaction, the vice president now owns 23,532 shares of the company’s stock, valued at approximately $1,196,602.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO George Laplante sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $67.08, for a total value of $2,012,400.00. Following the transaction, the chief financial officer now directly owns 118,720 shares in the company, valued at approximately $7,963,737.60. The disclosure for this sale can be found here. 5.43% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in Ambarella by 18.5% in the second quarter. Macquarie Group Ltd. now owns 87,390 shares of the company’s stock valued at $4,440,000 after buying an additional 13,641 shares during the period. Royal Bank of Canada raised its position in Ambarella by 93.8% in the second quarter. Royal Bank of Canada now owns 14,198 shares of the company’s stock valued at $720,000 after buying an additional 6,872 shares during the period. Amalgamated Bank bought a new position in Ambarella during the second quarter valued at $213,000. Elk Creek Partners LLC raised its position in Ambarella by 30.0% in the second quarter. Elk Creek Partners LLC now owns 213,600 shares of the company’s stock valued at $10,853,000 after buying an additional 49,275 shares during the period. Finally, First Foundation Advisors bought a new position in Ambarella during the second quarter valued at $203,000. 51.33% of the stock is currently owned by hedge funds and other institutional investors.
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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