Ambarella’s (AMBA) “Hold” Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG restated their hold rating on shares of Ambarella, Inc. (NASDAQ:AMBA) in a research report report published on Friday. Deutsche Bank AG currently has a $49.00 price target on the semiconductor company’s stock, down from their prior price target of $54.00.
A number of other research analysts also recently weighed in on the stock. Craig Hallum downgraded shares of Ambarella from a buy rating to a hold rating and set a $54.50 price objective for the company. in a research report on Friday. Morgan Stanley reiterated an overweight rating and issued a $65.00 price objective on shares of Ambarella in a research report on Thursday. Stifel Nicolaus reiterated a buy rating and issued a $52.00 price objective (down previously from $64.00) on shares of Ambarella in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Ambarella from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity reiterated a buy rating and issued a $72.00 price objective on shares of Ambarella in a research report on Tuesday, July 11th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ambarella presently has an average rating of Buy and an average price target of $63.23.
Shares of Ambarella (NASDAQ:AMBA) traded down 22.35% during trading on Friday, reaching $42.24. The company had a trading volume of 16,101,252 shares. Ambarella has a 1-year low of $42.01 and a 1-year high of $74.95. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 24.96 and a beta of 1.60. The company’s 50 day moving average is $51.19 and its 200-day moving average is $54.10.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $71.63 million during the quarter, compared to the consensus estimate of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.97%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, equities research analysts anticipate that Ambarella will post $2.07 earnings per share for the current year.
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Ambarella announced that its board has approved a share buyback plan on Tuesday, June 6th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the semiconductor company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Ambarella news, CEO Feng-Ming Wang sold 11,628 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $48.77, for a total value of $567,097.56. Following the completion of the sale, the chief executive officer now owns 290,691 shares in the company, valued at approximately $14,177,000.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO George Laplante sold 4,836 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $48.77, for a total transaction of $235,851.72. Following the completion of the sale, the chief financial officer now owns 100,848 shares of the company’s stock, valued at approximately $4,918,356.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,963 shares of company stock valued at $1,168,676. 5.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Ambarella by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,084,839 shares of the semiconductor company’s stock worth $114,061,000 after buying an additional 104,382 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Ambarella during the first quarter worth approximately $796,000. Tributary Capital Management LLC increased its stake in Ambarella by 11.9% in the second quarter. Tributary Capital Management LLC now owns 266,700 shares of the semiconductor company’s stock worth $12,948,000 after buying an additional 28,303 shares during the last quarter. First National Bank of Omaha increased its stake in Ambarella by 0.9% in the second quarter. First National Bank of Omaha now owns 22,583 shares of the semiconductor company’s stock worth $1,096,000 after buying an additional 205 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Ambarella by 48.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,368 shares of the semiconductor company’s stock worth $261,000 after buying an additional 1,763 shares during the last quarter. Institutional investors own 56.74% of the company’s stock.
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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