Vetr Inc. Lowers Ambarella Inc (AMBA) to Buy
Ambarella Inc (NASDAQ:AMBA) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $64.14 target price on the stock. Vetr‘s price objective suggests a potential upside of 11.28% from the company’s current price.
Several other equities analysts also recently weighed in on the company. KeyCorp dropped their price objective on Ambarella from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, November 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $84.00 price objective (down from $86.00) on shares of Ambarella in a research note on Monday, November 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Ambarella in a research note on Tuesday, January 10th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Ambarella in a research note on Tuesday, December 6th. Finally, Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a research note on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $69.01.
Ambarella (NASDAQ:AMBA) traded up 2.31% during trading on Monday, reaching $57.64. The company’s stock had a trading volume of 1,044,644 shares. The company has a 50 day moving average price of $54.71 and a 200-day moving average price of $59.16. The company has a market capitalization of $1.90 billion, a PE ratio of 34.31 and a beta of 1.51. Ambarella has a 52 week low of $35.26 and a 52 week high of $74.95.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.18. Ambarella had a return on equity of 13.28% and a net margin of 15.32%. The firm earned $87.50 million during the quarter, compared to the consensus estimate of $85.92 million. During the same period last year, the business posted $0.64 EPS. Ambarella’s quarterly revenue was up 28.7% on a year-over-year basis. Equities research analysts anticipate that Ambarella will post $2.19 earnings per share for the current year.
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In other Ambarella news, CEO Feng-Ming Wang sold 7,971 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $56.19, for a total transaction of $447,890.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO George Laplante sold 3,226 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $56.19, for a total value of $181,268.94. Following the transaction, the chief financial officer now directly owns 96,501 shares of the company’s stock, valued at approximately $5,422,391.19. The disclosure for this sale can be found here. Insiders have sold 18,123 shares of company stock valued at $1,021,942 in the last three months. 5.43% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD bought a new position in Ambarella during the third quarter valued at $22,494,000. Criterion Capital Management LLC bought a new position in Ambarella during the third quarter valued at $13,901,000. Telemark Asset Management LLC bought a new position in Ambarella during the fourth quarter valued at $8,120,000. Norges Bank bought a new position in Ambarella during the fourth quarter valued at $6,696,000. Finally, Morgan Stanley increased its position in Ambarella by 27.0% in the third quarter. Morgan Stanley now owns 572,787 shares of the company’s stock valued at $42,164,000 after buying an additional 121,695 shares during the last quarter. 58.50% of the stock is owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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