Brokerages Set Ambarella Inc (AMBA) Target Price at $47.17
Ambarella Inc (NASDAQ:AMBA) has earned an average rating of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $47.17.
Several analysts have recently issued reports on the company. ValuEngine raised Ambarella from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Bank of America cut Ambarella from a “neutral” rating to an “underperform” rating and set a $35.00 price objective on the stock. in a report on Friday, August 31st. Cowen decreased their price objective on Ambarella from $65.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 31st. Deutsche Bank decreased their price objective on Ambarella from $44.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, August 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, August 31st.
In related news, CEO Feng-Ming Wang sold 10,727 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $35.56, for a total transaction of $381,452.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leslie Kohn sold 6,799 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $35.46, for a total value of $241,092.54. Following the sale, the insider now owns 916,795 shares in the company, valued at approximately $32,509,550.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,609 shares of company stock worth $1,628,876 in the last 90 days. 5.84% of the stock is currently owned by insiders.
AMBA stock traded down $1.63 during midday trading on Monday, hitting $35.00. The company’s stock had a trading volume of 303,622 shares, compared to its average volume of 537,152. Ambarella has a 12 month low of $31.41 and a 12 month high of $66.23. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 63.64 and a beta of 1.13.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, August 30th. The semiconductor company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.12. Ambarella had a negative return on equity of 0.71% and a negative net margin of 1.40%. The business had revenue of $62.47 million during the quarter, compared to the consensus estimate of $62.27 million. On average, equities analysts predict that Ambarella will post -0.93 EPS for the current fiscal year.
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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