Vetr upgraded shares of Ambarella Inc. (NASDAQ:AMBA) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning. They currently have $74.39 price target on the stock.

AMBA has been the topic of a number of other reports. Canaccord Genuity increased their target price on Ambarella from $85.00 to $86.00 and gave the stock a buy rating in a research note on Wednesday, August 31st. Morgan Stanley reaffirmed a buy rating and set a $78.00 price objective on shares of Ambarella in a research report on Friday, September 2nd. Pacific Crest reaffirmed a buy rating on shares of Ambarella in a research report on Friday, September 2nd. Stifel Nicolaus reaffirmed a buy rating and set a $86.00 price objective on shares of Ambarella in a research report on Thursday, August 25th. Finally, Zacks Investment Research raised Ambarella from a hold rating to a buy rating and set a $61.00 price objective on the stock in a research report on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $70.03.

Shares of Ambarella (NASDAQ:AMBA) opened at 63.01 on Wednesday. Ambarella has a 1-year low of $33.39 and a 1-year high of $74.95. The stock’s 50 day moving average price is $68.72 and its 200-day moving average price is $54.05. The company has a market capitalization of $2.06 billion, a PE ratio of 47.45 and a beta of 1.50.

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

In other Ambarella news, VP Christopher Day sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $67.00, for a total transaction of $134,000.00. Following the completion of the transaction, the vice president now owns 27,071 shares of the company’s stock, valued at $1,813,757. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO George Laplante sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the chief financial officer now directly owns 100,040 shares of the company’s stock, valued at approximately $7,002,800. The disclosure for this sale can be found here. Company insiders own 5.43% of the company’s stock.

Several institutional investors have recently made changes to their positions in 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 worth $15,789,000 after buying an additional 99,502 shares during the period. 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 worth $760,000 after buying an additional 5,100 shares during the period. Quantitative Investment Management LLC bought a new stake in Ambarella during the second quarter worth about $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 worth $2,178,000 after buying an additional 44,055 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Ambarella during the second quarter worth about $506,000. 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.

5 Day Chart for NASDAQ:AMBA

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