Vetr upgraded shares of Ambarella Inc. (NASDAQ:AMBA) from a hold rating to a buy rating in a research report released on Thursday. They currently have $74.39 price target on the stock.

AMBA has been the subject of a number of other reports. Needham & Company LLC reaffirmed a hold rating on shares of Ambarella in a report on Friday, August 26th. Zacks Investment Research cut shares of Ambarella from a buy rating to a hold rating in a report on Tuesday, July 26th. Canaccord Genuity upped their target price on shares of Ambarella from $85.00 to $86.00 and gave the company a buy rating in a report on Wednesday, August 31st. Pacific Crest reaffirmed a buy rating on shares of Ambarella in a report on Friday, September 2nd. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $86.00 target price on shares of Ambarella in a report on Thursday, August 25th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $69.96.

Ambarella (NASDAQ:AMBA) traded down 2.21% during midday trading on Thursday, reaching $69.90. The company had a trading volume of 429,711 shares. Ambarella has a 1-year low of $33.39 and a 1-year high of $74.95. The stock has a market capitalization of $2.29 billion, a PE ratio of 52.64 and a beta of 1.50. The firm’s 50 day moving average is $68.62 and its 200 day moving average is $53.30.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The business earned $65.10 million during the quarter, compared to analysts’ expectations of $64.02 million. During the same period in the prior year, the company earned $0.88 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Ambarella will post $2.64 EPS for the current fiscal year.

In other Ambarella news, VP Christopher Day sold 2,000 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $67.00, for a total value of $134,000.00. Following the completion of the transaction, the vice president now directly owns 27,071 shares of the company’s stock, valued at $1,813,757. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Yun-Lung Chen sold 4,197 shares of the stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $74.19, for a total transaction of $311,375.43. Following the completion of the transaction, the vice president now directly owns 13,530 shares of the company’s stock, valued at $1,003,790.70. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC raised its stake in Ambarella by 47.1% in the second quarter. Rice Hall James & Associates LLC now owns 310,746 shares of the company’s stock valued at $15,789,000 after buying an additional 99,502 shares in the last quarter. Credit Agricole S A raised its stake in Ambarella by 42.9% in the first quarter. Credit Agricole S A now owns 17,000 shares of the company’s stock valued at $760,000 after buying an additional 5,100 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Ambarella during the second quarter valued at approximately $2,215,000. Squarepoint Ops LLC raised its stake in Ambarella by 941.3% in the first quarter. Squarepoint Ops LLC now owns 48,735 shares of the company’s stock valued at $2,178,000 after buying an additional 44,055 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ambarella during the second quarter valued at approximately $506,000. 51.33% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:AMBA

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