Ambarella, Inc. (NASDAQ:AMBA) Given Average Rating of “Buy” by Brokerages
Ambarella, Inc. (NASDAQ:AMBA) has earned an average rating of “Buy” from the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $67.40.
Several research analysts have recently issued reports on AMBA shares. Zacks Investment Research raised Ambarella from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. TheStreet cut Ambarella from a “b” rating to a “c+” rating in a research report on Tuesday, June 6th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Ambarella in a research report on Friday, June 9th. Deutsche Bank AG lowered their price objective on Ambarella from $55.00 to $54.00 and set a “hold” rating for the company in a research report on Friday, June 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of Ambarella in a research report on Wednesday, June 7th.
In other Ambarella news, CEO Feng-Ming Wang sold 11,628 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $567,097.56. Following the completion of the sale, the chief executive officer now directly owns 290,691 shares of the company’s stock, valued at approximately $14,177,000.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO George Laplante sold 4,836 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $235,851.72. Following the sale, the chief financial officer now directly owns 100,848 shares of the company’s stock, valued at $4,918,356.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,963 shares of company stock valued at $1,168,676. 5.80% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. First National Bank of Omaha increased its stake in Ambarella by 53.9% in the first quarter. First National Bank of Omaha now owns 22,378 shares of the semiconductor company’s stock valued at $1,224,000 after buying an additional 7,835 shares in the last quarter. Teachers Advisors LLC increased its stake in Ambarella by 60.3% in the fourth quarter. Teachers Advisors LLC now owns 265,381 shares of the semiconductor company’s stock valued at $14,365,000 after buying an additional 99,777 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Ambarella during the first quarter valued at approximately $796,000. Vanguard Group Inc. increased its stake in Ambarella by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,084,839 shares of the semiconductor company’s stock valued at $114,061,000 after buying an additional 104,382 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Ambarella by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,121 shares of the semiconductor company’s stock valued at $444,000 after buying an additional 92 shares in the last quarter. 57.65% of the stock is owned by hedge funds and other institutional investors.
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Ambarella (AMBA) traded up 0.34% during midday trading on Friday, reaching $50.70. The company’s stock had a trading volume of 395,239 shares. Ambarella has a 1-year low of $46.80 and a 1-year high of $74.95. The stock’s 50-day moving average price is $50.30 and its 200 day moving average price is $54.12. The firm has a market capitalization of $1.70 billion, a PE ratio of 29.96 and a beta of 1.61.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, June 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $64.10 million during the quarter, compared to analysts’ expectations of $63.54 million. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. Equities analysts anticipate that Ambarella will post $2.07 EPS for the current fiscal year.
Ambarella announced that its board has approved a stock buyback plan on Tuesday, June 6th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
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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