Roth Capital lowered shares of Ambarella, Inc. (NASDAQ:AMBA) from a buy rating to a neutral rating in a report published on Friday morning.

Several other analysts have also recently issued reports on the company. Craig Hallum cut Ambarella from a buy rating to a hold rating and set a $54.50 price objective on the stock. in a research note on Friday. Canaccord Genuity reiterated a buy rating and issued a $72.00 price objective on shares of Ambarella in a research note on Tuesday, July 11th. Zacks Investment Research cut Ambarella from a hold rating to a sell rating in a research note on Friday, June 9th. Stifel Nicolaus reiterated a buy rating and issued a $64.00 price objective (down from $65.00) on shares of Ambarella in a research note on Thursday, June 1st. Finally, Deutsche Bank AG reduced their price objective on Ambarella from $55.00 to $54.00 and set a hold rating on the stock in a research note on Friday, June 9th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $63.23.

Ambarella (NASDAQ AMBA) traded down 22.35% on Friday, hitting $42.24. The stock had a trading volume of 16,101,252 shares. The firm’s 50-day moving average is $51.19 and its 200-day moving average is $54.10. Ambarella has a 52-week low of $42.01 and a 52-week high of $74.95. The company has a market cap of $1.42 billion, a P/E ratio of 24.96 and a beta of 1.60.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a return on equity of 11.97% and a net margin of 16.45%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that Ambarella will post $2.07 earnings per share for the current fiscal year.

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Ambarella announced that its board has approved a share buyback program on Tuesday, June 6th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

In other news, CEO Feng-Ming Wang sold 11,628 shares of Ambarella stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $567,097.56. Following the sale, the chief executive officer now owns 290,691 shares in the company, valued at $14,177,000.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leslie Kohn sold 5,973 shares of Ambarella stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $291,303.21. Following the sale, the insider now owns 904,530 shares in the company, valued at approximately $44,113,928.10. The disclosure for this sale can be found here. Insiders have sold 23,963 shares of company stock worth $1,168,676 in the last quarter. Insiders own 5.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after buying an additional 1,006 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Ambarella during the first quarter worth approximately $151,000. FNY Partners Fund LP purchased a new stake in Ambarella during the first quarter worth approximately $164,000. Dubuque Bank & Trust Co. boosted its stake in Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after buying an additional 147 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Ambarella by 2.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,605 shares of the semiconductor company’s stock worth $197,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 56.74% 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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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