Ambarella (NASDAQ:AMBA) Rating Increased to Sell at StockNews.com

Ambarella (NASDAQ:AMBA) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Friday.

A number of other brokerages have also recently issued reports on AMBA. Bank of America cut their price objective on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a research note on Tuesday, April 16th. Morgan Stanley upped their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Susquehanna upped their price objective on shares of Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Wells Fargo & Company cut shares of Ambarella from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $85.00 to $65.00 in a research note on Wednesday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Ambarella currently has a consensus rating of “Hold” and an average target price of $71.08.

Ambarella Stock Performance

Ambarella stock traded up $0.79 during midday trading on Friday, reaching $43.09. 549,763 shares of the stock were exchanged, compared to its average volume of 556,946. The company’s fifty day moving average is $50.42 and its 200-day moving average is $53.49. The firm has a market cap of $1.76 billion, a PE ratio of -10.16 and a beta of 1.66. Ambarella has a 52 week low of $40.31 and a 52 week high of $89.18.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.03. The firm had revenue of $51.62 million for the quarter, compared to analyst estimates of $51.68 million. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. On average, sell-side analysts anticipate that Ambarella will post -3.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,075 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $52,965.25. Following the completion of the sale, the chief operating officer now owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Chan W. Lee sold 1,075 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the sale, the chief operating officer now directly owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares of the company’s stock, valued at $39,742,758.64. The disclosure for this sale can be found here. Insiders sold 6,648 shares of company stock valued at $327,595 in the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several institutional investors and hedge funds have recently modified their holdings of AMBA. Kodai Capital Management LP purchased a new stake in shares of Ambarella in the 4th quarter worth about $65,543,000. Norges Bank bought a new position in shares of Ambarella in the 4th quarter worth about $23,495,000. Assenagon Asset Management S.A. increased its stake in shares of Ambarella by 1,276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 403,197 shares of the semiconductor company’s stock worth $24,712,000 after acquiring an additional 373,915 shares in the last quarter. Rokos Capital Management LLP increased its stake in shares of Ambarella by 121.0% in the 3rd quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock worth $34,626,000 after acquiring an additional 355,689 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Ambarella by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,022,670 shares of the semiconductor company’s stock worth $213,322,000 after acquiring an additional 139,767 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.