Ambarella Inc. (AMBA) Price Target Cut to $70.00
Ambarella Inc. (NASDAQ:AMBA) had its price target decreased by analysts at KeyCorp from $75.00 to $70.00 in a research note issued on Tuesday. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 11.84% from the company’s current price.
A number of other brokerages have also recently issued reports on AMBA. Stifel Nicolaus restated a “buy” rating and issued a $86.00 price objective on shares of Ambarella in a research note on Monday. Vetr lowered shares of Ambarella from a “buy” rating to a “sell” rating and set a $62.36 target price on the stock. in a report on Wednesday, August 24th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $68.00 target price on shares of Ambarella in a report on Friday, September 16th. Canaccord Genuity upped their target price on shares of Ambarella from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Zacks Investment Research lowered shares of Ambarella from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 1st. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $69.67.
Ambarella (NASDAQ:AMBA) traded down 1.62% during mid-day trading on Tuesday, hitting $62.59. 628,009 shares of the company were exchanged. The stock has a market cap of $2.05 billion, a P/E ratio of 47.13 and a beta of 1.63. Ambarella has a 12-month low of $33.39 and a 12-month high of $74.95. The company has a 50 day moving average of $61.64 and a 200 day moving average of $58.67.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 earnings per share (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 company earned $65.10 million during the quarter, compared to analysts’ expectations of $64.02 million. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue was down 22.7% on a year-over-year basis. On average, equities research analysts expect that Ambarella will post $2.64 earnings per share for the current fiscal year.
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In other news, VP Yun-Lung Chen sold 4,197 shares of Ambarella stock in a transaction on Friday, September 30th. The stock was sold at an average price of $74.19, for a total transaction of $311,375.43. Following the completion of the sale, the vice president now owns 13,530 shares of the company’s stock, valued at $1,003,790.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 1,000 shares of Ambarella stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $69.13, for a total value of $69,130.00. Following the sale, the director now directly owns 10,014 shares of the company’s stock, valued at approximately $692,267.82. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smithfield Trust Co. increased its position in Ambarella by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,000 shares of the company’s stock worth $102,000 after buying an additional 1,000 shares during the period. Penserra Capital Management LLC increased its position in shares of Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock valued at $106,000 after buying an additional 316 shares during the last quarter. US Bancorp DE increased its position in shares of Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock valued at $107,000 after buying an additional 197 shares during the last quarter. First Interstate Bank increased its position in shares of Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock valued at $110,000 after buying an additional 88 shares during the last quarter. Finally, FTB Advisors Inc. acquired a new position in shares of Ambarella during the second quarter valued at approximately $112,000. 58.80% 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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