Ambarella, Inc. (NASDAQ:AMBA)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday.

Other equities analysts also recently issued research reports about the company. Dougherty & Co dropped their price target on Ambarella from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Friday. TheStreet downgraded Ambarella from a “b” rating to a “c+” rating in a research report on Tuesday, June 6th. Vetr downgraded Ambarella from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. BidaskClub downgraded Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Finally, Canaccord Genuity reissued a “buy” rating and set a $72.00 price target on shares of Ambarella in a research report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Ambarella currently has a consensus rating of “Buy” and a consensus price target of $63.23.

Shares of Ambarella (NASDAQ:AMBA) traded down 22.11% during mid-day trading on Friday, hitting $42.37. The stock had a trading volume of 13,082,910 shares. Ambarella has a 52-week low of $42.01 and a 52-week high of $74.95. The stock has a 50 day moving average price of $51.46 and a 200-day moving average price of $54.18. The company has a market cap of $1.42 billion, a PE ratio of 25.04 and a beta of 1.61.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The firm had revenue of $71.63 million during the quarter, compared to the consensus estimate of $70.79 million. During the same period last year, the business posted $0.54 EPS. Ambarella’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts expect that Ambarella will post $2.07 earnings per share for the current fiscal year.

Ambarella declared that its Board of Directors has approved a share buyback program on Tuesday, June 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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In other Ambarella news, insider Leslie Kohn sold 5,973 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $291,303.21. Following the transaction, the insider now owns 904,530 shares in the company, valued at $44,113,928.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 11,628 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $567,097.56. Following the transaction, the chief executive officer now owns 290,691 shares in the company, valued at approximately $14,177,000.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,963 shares of company stock worth $1,168,676. 5.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Ambarella by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock worth $104,169,000 after buying an additional 60,770 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Ambarella by 22.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,235,483 shares of the semiconductor company’s stock worth $59,983,000 after buying an additional 228,740 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Ambarella by 36.2% in the second quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock worth $55,949,000 after buying an additional 306,248 shares during the last quarter. AXA raised its stake in shares of Ambarella by 100.6% in the second quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after buying an additional 355,170 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of Ambarella by 44.9% in the first quarter. Pinnacle Associates Ltd. now owns 679,192 shares of the semiconductor company’s stock worth $37,159,000 after buying an additional 210,558 shares during the last quarter. 56.74% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

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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