Ambarella, Inc. (NASDAQ:AMBA) Given Consensus Rating of “Moderate Buy” by Brokerages

Ambarella, Inc. (NASDAQ:AMBA) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $74.09.

A number of research analysts recently commented on the company. Craig Hallum upped their target price on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Bank of America upped their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Stifel Nicolaus upped their target price on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm reiterated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th.

Ambarella Trading Up 2.8 %

AMBA opened at $59.03 on Wednesday. Ambarella has a 1-year low of $39.69 and a 1-year high of $65.88. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -13.66 and a beta of 1.63. The business has a 50 day moving average of $57.00 and a 200-day moving average of $54.20.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. Ambarella’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.76) earnings per share. Equities analysts predict that Ambarella will post -3 EPS for the current year.

Insider Activity

In other news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the completion of the sale, the chief executive officer now owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Hedge funds have recently added to or reduced their stakes in the company. SWS Partners boosted its holdings in Ambarella by 25.3% in the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after acquiring an additional 16,049 shares during the last quarter. Millennium Management LLC boosted its holdings in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares during the last quarter. Sei Investments Co. bought a new position in Ambarella in the first quarter valued at about $571,000. Acadian Asset Management LLC boosted its holdings in Ambarella by 2,042.7% in the first quarter. Acadian Asset Management LLC now owns 52,240 shares of the semiconductor company’s stock valued at $2,648,000 after acquiring an additional 49,802 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Ambarella in the second quarter valued at about $841,000. Institutional investors own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.