Ambarella (AMBA) Upgraded by Vetr to Buy
Ambarella (NASDAQ:AMBA) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $61.51 target price on the semiconductor company’s stock. Vetr‘s target price suggests a potential upside of 6.84% from the stock’s current price.
Several other research firms also recently weighed in on AMBA. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a research report on Friday. Oppenheimer reiterated a “hold” rating on shares of Ambarella in a research report on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $62.00 price objective (up previously from $52.00) on shares of Ambarella in a research report on Wednesday, November 22nd. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Ambarella in a research report on Friday, November 3rd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Ambarella currently has a consensus rating of “Hold” and a consensus price target of $58.65.
Ambarella (AMBA) traded down $1.76 during midday trading on Tuesday, hitting $57.57. The stock had a trading volume of 1,432,167 shares, compared to its average volume of 1,045,829. The stock has a market capitalization of $1,960.00, a P/E ratio of 59.08, a PEG ratio of 6.57 and a beta of 1.57. Ambarella has a 1-year low of $40.06 and a 1-year high of $65.39.
In other Ambarella news, VP Christopher Day sold 2,618 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $49.15, for a total transaction of $128,674.70. Following the completion of the sale, the vice president now owns 20,377 shares of the company’s stock, valued at $1,001,529.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Feng-Ming Wang sold 11,629 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $540,748.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,835 shares of company stock worth $1,301,265. 5.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of AMBA. Victory Capital Management Inc. increased its stake in Ambarella by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 337 shares during the last quarter. Turner Investments LLC acquired a new stake in Ambarella during the third quarter worth $172,000. Amalgamated Bank increased its stake in Ambarella by 3.6% during the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 143 shares during the last quarter. Aperio Group LLC acquired a new stake in Ambarella during the third quarter worth $213,000. Finally, Belpointe Asset Management LLC acquired a new stake in Ambarella during the third quarter worth $216,000. 63.21% of the stock is owned by institutional investors.
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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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