Canaccord Genuity Reaffirms “Buy” Rating for Ambarella Inc. (AMBA)
Canaccord Genuity reiterated their buy rating on shares of Ambarella Inc. (NASDAQ:AMBA) in a research note issued to investors on Monday morning. They currently have a $87.00 price target on the stock.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Ambarella from a strong-buy rating to a hold rating in a research note on Tuesday, November 1st. Vetr cut shares of Ambarella from a strong-buy rating to a buy rating and set a $68.62 price objective for the company. in a report on Friday, August 12th. Deutsche Bank AG reiterated a hold rating and set a $68.00 price objective on shares of Ambarella in a report on Friday, September 16th. Finally, Roth Capital began coverage on shares of Ambarella in a report on Wednesday, September 28th. They set a buy rating and a $80.00 price objective for the company. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $70.03.
Ambarella (NASDAQ:AMBA) opened at 57.27 on Monday. The company has a 50-day moving average of $64.64 and a 200-day moving average of $56.48. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 43.13 and a beta of 1.63. Ambarella has a 52 week low of $33.39 and a 52 week high of $74.95.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The firm earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. On average, equities analysts forecast that Ambarella will post $2.64 earnings per share for the current fiscal year.
In other news, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $69.13, for a total transaction of $69,130.00. Following the transaction, the director now owns 10,014 shares in the company, valued at $692,267.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher Day sold 1,405 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 $95,511.90. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC raised its stake in shares of 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 in the last quarter. Lucus Advisors LLC raised its stake in shares of Ambarella by 29.0% in the second quarter. Lucus Advisors LLC now owns 6,839 shares of the company’s stock worth $347,000 after buying an additional 1,536 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Ambarella during the second quarter worth approximately $228,000. Greylin Investment Mangement Inc. raised its stake in shares of Ambarella by 96.7% in the second quarter. Greylin Investment Mangement Inc. now owns 22,830 shares of the company’s stock worth $1,160,000 after buying an additional 11,225 shares in the last quarter. Finally, Goelzer Investment Management Inc. raised its stake in shares of Ambarella by 86.2% in the second quarter. Goelzer Investment Management Inc. now owns 62,112 shares of the company’s stock worth $3,156,000 after buying an additional 28,760 shares in the last quarter. Hedge funds and other institutional investors own 51.03% of the company’s stock.
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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