Ambarella’s (AMBA) “Buy” Rating Reiterated at Dougherty & Co
A number of other equities analysts have also recently issued reports on the company. Morgan Stanley restated an overweight rating and issued a $65.00 target price on shares of Ambarella in a report on Saturday, March 11th. Pacific Crest restated an overweight rating and issued a $64.00 target price on shares of Ambarella in a report on Saturday, March 11th. Summit Redstone cut Ambarella from a buy rating to a hold rating and decreased their target price for the stock from $76.00 to $50.00 in a report on Friday, March 3rd. Stifel Nicolaus decreased their target price on Ambarella from $82.00 to $65.00 and set a buy rating on the stock in a report on Wednesday, March 1st. Finally, Needham & Company LLC restated a hold rating on shares of Ambarella in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $69.01.
Shares of Ambarella (NASDAQ:AMBA) opened at 57.64 on Thursday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 34.31 and a beta of 1.51. The firm’s 50-day moving average price is $54.71 and its 200 day moving average price is $59.16. Ambarella has a 52 week low of $35.26 and a 52 week high of $74.95.
Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, February 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.18. The business had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $85.92 million. Ambarella had a return on equity of 13.28% and a net margin of 15.32%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. On average, analysts anticipate that Ambarella will post $2.19 EPS for the current year.
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In related news, VP Christopher Day sold 1,071 shares of Ambarella stock in a transaction on Monday, March 13th. The stock was sold at an average price of $55.50, for a total transaction of $59,440.50. Following the completion of the sale, the vice president now owns 22,095 shares of the company’s stock, valued at $1,226,272.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $60.54, for a total value of $60,540.00. Following the sale, the director now directly owns 11,893 shares of the company’s stock, valued at approximately $720,002.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,123 shares of company stock valued at $1,021,942. 5.43% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Ambarella during the third quarter worth about $154,000. First Interstate Bank boosted its stake in Ambarella by 2.4% in the fourth quarter. First Interstate Bank now owns 2,169 shares of the company’s stock worth $117,000 after buying an additional 50 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new stake in Ambarella during the third quarter worth about $188,000. Sheaff Brock Investment Advisors LLC purchased a new stake in Ambarella during the third quarter worth about $202,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Ambarella during the third quarter worth about $204,000. 58.50% of the stock is 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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