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

Shares of Ambarella, Inc. (NASDAQ:AMBA) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $74.09.

A number of equities analysts have issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Susquehanna cut their price objective on Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Morgan Stanley lifted their price objective on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Roth Mkm reiterated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th.

Insider Activity at Ambarella

In other Ambarella news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the transaction, the vice president now owns 18,466 shares of the company’s stock, valued at $1,071,028. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AMBA. Point72 Asset Management L.P. increased its position in shares of Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Ambarella by 36.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after acquiring an additional 343,385 shares during the period. Barclays PLC boosted its stake in shares of Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after acquiring an additional 286,296 shares during the period. Marshall Wace LLP boosted its stake in shares of Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after acquiring an additional 250,778 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after acquiring an additional 248,297 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Trading Up 2.8 %

Shares of 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 cap of $2.44 billion, a P/E ratio of -13.66 and a beta of 1.63. The stock’s 50-day moving average price is $57.00 and its two-hundred day moving average price is $54.20.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter last year, the business earned ($0.76) earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Ambarella will post -3 EPS for the current year.

Ambarella Company Profile

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.