Ambarella (AMBA) Upgraded at Vetr

Vetr upgraded shares of Ambarella (NASDAQ:AMBA) from a hold rating to a buy rating in a research note released on Tuesday. Vetr currently has $61.51 price objective on the semiconductor company’s stock.

Several other equities analysts have also recently weighed in on the company. Craig Hallum cut Ambarella from a buy rating to a hold rating and set a $50.00 price objective for the company. in a report on Friday, September 1st. Oppenheimer reaffirmed a hold rating on shares of Ambarella in a report on Friday, September 1st. Canaccord Genuity reaffirmed a buy rating and issued a $65.00 price objective (up from $58.00) on shares of Ambarella in a report on Friday, October 13th. Morgan Stanley reaffirmed an overweight rating and issued a $60.00 price objective on shares of Ambarella in a report on Thursday, September 7th. Finally, Zacks Investment Research raised Ambarella from a sell rating to a hold rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Ambarella presently has an average rating of Hold and a consensus target price of $58.65.

Ambarella (AMBA) traded up $0.86 during trading hours on Tuesday, reaching $59.00. The company had a trading volume of 906,712 shares, compared to its average volume of 1,234,251. The firm has a market cap of $1,931.07, a PE ratio of 55.37, a P/E/G ratio of 5.63 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 announced its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm had revenue of $89.06 million during the quarter, compared to analysts’ expectations of $89.41 million. Ambarella had a return on equity of 7.92% and a net margin of 11.51%. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 EPS. equities analysts forecast that Ambarella will post 0.7 EPS for the current year.

In other news, insider Leslie Kohn sold 6,467 shares of Ambarella stock in a transaction on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $300,715.50. Following the transaction, the insider now owns 907,645 shares in the company, valued at approximately $42,205,492.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,529 shares of Ambarella stock in a transaction on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $71,098.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,835 shares of company stock worth $1,301,265. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AMBA. Geode Capital Management LLC grew its position in Ambarella by 12.9% during the 1st quarter. Geode Capital Management LLC now owns 71,105 shares of the semiconductor company’s stock worth $3,890,000 after acquiring an additional 8,147 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Ambarella by 5.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 53,300 shares of the semiconductor company’s stock worth $2,917,000 after acquiring an additional 2,800 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Ambarella by 6.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 8,715 shares of the semiconductor company’s stock worth $423,000 after acquiring an additional 542 shares during the last quarter. Sei Investments Co. grew its position in Ambarella by 280,038.9% during the 2nd quarter. Sei Investments Co. now owns 50,425 shares of the semiconductor company’s stock worth $2,449,000 after acquiring an additional 50,407 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in Ambarella by 13.0% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 69,994 shares of the semiconductor company’s stock worth $3,398,000 after acquiring an additional 8,032 shares during the last quarter. Institutional investors own 63.21% of the company’s stock.

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About Ambarella

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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