Ambarella, Inc. (AMBA) Stock Rating Lowered by Roth Capital
Ambarella, Inc. (NASDAQ:AMBA) was downgraded by investment analysts at Roth Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday.
A number of other research firms have also recently weighed in on AMBA. Vetr cut Ambarella from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target (down from $65.00) on shares of Ambarella in a research note on Thursday, June 1st. Canaccord Genuity restated a “buy” rating and issued a $72.00 price target on shares of Ambarella in a research note on Wednesday, June 7th. TheStreet cut Ambarella from a “b” rating to a “c+” rating in a research note on Tuesday, June 6th. Finally, Deutsche Bank AG cut their price target on Ambarella from $55.00 to $54.00 and set a “hold” rating on the stock in a research note on Friday, June 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Ambarella presently has an average rating of “Buy” and an average price target of $65.54.
Shares of Ambarella (NASDAQ AMBA) traded down 21.56% on Friday, reaching $42.67. The company had a trading volume of 7,827,730 shares. Ambarella has a 12 month low of $42.01 and a 12 month high of $74.95. The firm’s 50 day moving average is $51.46 and its 200 day moving average is $54.18. The firm has a market capitalization of $1.43 billion, a PE ratio of 25.22 and a beta of 1.61.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. On average, equities research analysts expect that Ambarella will post $2.07 earnings per share for the current fiscal year.
Ambarella declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 6th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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In other Ambarella news, VP Christopher Day sold 1,526 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total transaction of $74,423.02. Following the transaction, the vice president now owns 22,892 shares of the company’s stock, valued at $1,116,442.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Feng-Ming Wang sold 11,628 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $567,097.56. Following the transaction, the chief executive officer now directly owns 290,691 shares in the company, valued at approximately $14,177,000.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,963 shares of company stock worth $1,168,676. Corporate insiders own 5.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after buying an additional 1,006 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Ambarella during the first quarter worth about $151,000. FNY Partners Fund LP bought a new position in Ambarella during the first quarter worth about $164,000. Dubuque Bank & Trust Co. raised its position in Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after buying an additional 147 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Ambarella by 2.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,605 shares of the semiconductor company’s stock worth $197,000 after buying an additional 88 shares in the last quarter. 56.74% of the stock is currently owned by institutional investors.
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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