Shares of Ambarella, Inc. (NASDAQ:AMBA) reached a new 52-week low during trading on Friday after Dougherty & Co lowered their price target on the stock from $75.00 to $60.00. Dougherty & Co currently has a buy rating on the stock. Ambarella traded as low as $42.92 and last traded at $42.87, with a volume of 11,749,979 shares changing hands. The stock had previously closed at $54.40.

Other analysts have also issued reports about the stock. Stifel Nicolaus reduced their price target on shares of Ambarella from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Friday. Deutsche Bank AG reissued a “hold” rating and issued a $49.00 price target (down from $54.00) on shares of Ambarella in a research report on Friday. Roth Capital lowered shares of Ambarella from a “buy” rating to a “neutral” rating in a research report on Friday. Craig Hallum lowered shares of Ambarella from a “buy” rating to a “hold” rating and set a $54.50 price target for the company. in a research report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a research report on Friday, June 9th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ambarella has an average rating of “Buy” and a consensus target price of $63.23.

In related news, CEO Feng-Ming Wang sold 11,628 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $567,097.56. Following the completion of the transaction, the chief executive officer now directly owns 290,691 shares of the company’s stock, valued at $14,177,000.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 1,526 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $74,423.02. Following the completion of the transaction, the vice president now directly owns 22,892 shares of the company’s stock, valued at $1,116,442.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,963 shares of company stock worth $1,168,676. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMBA. Victory Capital Management Inc. boosted its position in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 1,006 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Ambarella during the first quarter valued at approximately $151,000. FNY Partners Fund LP purchased a new position in shares of Ambarella during the first quarter valued at approximately $164,000. Dubuque Bank & Trust Co. boosted its position in shares of Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 147 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Ambarella by 2.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,605 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 88 shares during the period. 56.74% of the stock is owned by hedge funds and other institutional investors.

The stock has a market capitalization of $1.42 billion, a PE ratio of 24.96 and a beta of 1.61. The company has a 50-day moving average of $51.19 and a 200 day moving average of $54.10.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $70.79 million. Ambarella had a return on equity of 13.70% and a net margin of 18.47%. Ambarella’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Equities analysts predict that Ambarella, Inc. will post $2.07 EPS for the current year.

Ambarella announced that its board has initiated a stock repurchase program on Tuesday, June 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “Ambarella, Inc. (AMBA) Hits New 12-Month Low After Analyst Downgrade” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/02/ambarella-inc-amba-hits-new-12-month-low-after-analyst-downgrade.html.

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.

Receive News & Stock Ratings for Ambarella Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambarella Inc. and related stocks with our FREE daily email newsletter.