Ambarella, Inc. (AMBA) Rating Reiterated by Morgan Stanley
Morgan Stanley reissued their overweight rating on shares of Ambarella, Inc. (NASDAQ:AMBA) in a research note released on Thursday morning. The brokerage currently has a $65.00 price objective on the semiconductor company’s stock.
AMBA has been the subject of a number of other research reports. Zacks Investment Research upgraded Ambarella from a sell rating to a hold rating in a research report on Wednesday, August 2nd. TheStreet downgraded Ambarella from a b rating to a c+ rating in a research report on Tuesday, June 6th. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Ambarella in a research report on Friday, June 9th. Deutsche Bank AG cut their target price on Ambarella from $55.00 to $54.00 and set a hold rating for the company in a research report on Friday, June 9th. Finally, Stifel Nicolaus restated a buy rating and set a $64.00 target price (down previously from $65.00) on shares of Ambarella in a research report on Wednesday, June 7th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $63.23.
Shares of Ambarella (NASDAQ:AMBA) opened at 42.24 on Thursday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 24.96 and a beta of 1.60. Ambarella has a 52-week low of $42.01 and a 52-week high of $74.95. The company’s 50 day moving average price is $51.19 and its 200 day moving average price is $54.10.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Ambarella had a return on equity of 11.97% and a net margin of 16.45%. The company had revenue of $71.63 million during the quarter, compared to the consensus estimate of $70.79 million. During the same quarter last year, the company earned $0.54 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts forecast that Ambarella will post $2.07 earnings per share for the current year.
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Ambarella declared that its Board of Directors has initiated a stock 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 generally an indication that the company’s board believes its stock is undervalued.
In other Ambarella news, CFO George Laplante sold 4,836 shares of Ambarella stock in a transaction on Friday, June 16th. The stock was sold at an average price of $48.77, for a total value of $235,851.72. Following the completion of the transaction, the chief financial officer now owns 100,848 shares in the company, valued at approximately $4,918,356.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Feng-Ming Wang sold 11,628 shares of Ambarella stock in a transaction on 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 transaction, the chief executive officer now owns 290,691 shares of the company’s stock, valued at approximately $14,177,000.07. 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. Corporate insiders own 5.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBA. Victory Capital Management Inc. increased its stake in shares of Ambarella by 112.2% in the 1st 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. acquired a new stake in shares of Ambarella in the 1st quarter valued at $151,000. FNY Partners Fund LP acquired a new stake in shares of Ambarella in the 1st quarter valued at $164,000. Dubuque Bank & Trust Co. increased its stake in shares of Ambarella by 4.0% in the 2nd 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. increased its stake in shares of Ambarella by 2.5% in the 1st 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 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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