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.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. Ambarella had a return on equity of 7.92% and a net margin of 11.51%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. research analysts forecast that Ambarella will post 0.64 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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