Ambarella Inc. (AMBA) PT Raised to $87.00
Ambarella Inc. (NASDAQ:AMBA) had its target price raised by equities researchers at Canaccord Genuity from $86.00 to $87.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 36.12% from the stock’s previous close.
AMBA has been the topic of a number of other research reports. Vetr lowered shares of Ambarella from a “sell” rating to a “strong sell” rating and set a $61.77 price objective on the stock. in a research report on Tuesday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a research report on Friday, August 26th. Zacks Investment Research lowered shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Pacific Crest reissued a “buy” rating on shares of Ambarella in a research report on Friday, September 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price objective on shares of Ambarella in a research report on Thursday, August 25th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $70.03.
Ambarella (NASDAQ:AMBA) opened at 63.91 on Wednesday. The firm has a 50-day moving average of $68.86 and a 200 day moving average of $53.99. Ambarella has a 1-year low of $33.39 and a 1-year high of $74.95. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 48.12 and a beta of 1.50.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.16. The business had revenue of $65.10 million for the quarter, compared to analyst estimates of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Analysts expect that Ambarella will post $2.64 earnings per share for the current fiscal year.
In related news, CEO Feng-Ming Wang sold 9,573 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $67.98, for a total transaction of $650,772.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO George Laplante sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $67.08, for a total transaction of $2,012,400.00. Following the sale, the chief financial officer now directly owns 118,720 shares of the company’s stock, valued at approximately $7,963,737.60. The disclosure for this sale can be found here. Corporate insiders own 5.43% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its stake in Ambarella by 18.5% in the second quarter. Macquarie Group Ltd. now owns 87,390 shares of the company’s stock valued at $4,440,000 after buying an additional 13,641 shares in the last quarter. Royal Bank of Canada boosted its stake in Ambarella by 93.8% in the second quarter. Royal Bank of Canada now owns 14,198 shares of the company’s stock valued at $720,000 after buying an additional 6,872 shares in the last quarter. Amalgamated Bank purchased a new stake in Ambarella during the second quarter valued at $213,000. Elk Creek Partners LLC boosted its stake in Ambarella by 30.0% in the second quarter. Elk Creek Partners LLC now owns 213,600 shares of the company’s stock valued at $10,853,000 after buying an additional 49,275 shares in the last quarter. Finally, First Foundation Advisors purchased a new stake in Ambarella during the second quarter valued at $203,000. 51.33% of the stock is owned by institutional investors and hedge funds.
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.
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