Shares of Ambarella Inc (NASDAQ:AMBA) have been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $47.17.
Several research analysts have recently issued reports on AMBA shares. Bank of America started coverage on shares of Ambarella in a report on Tuesday, July 17th. They issued a “neutral” rating and a $42.00 target price on the stock. BidaskClub cut shares of Ambarella from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Ambarella from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 7th. Cowen cut their target price on shares of Ambarella from $65.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Ambarella in a report on Friday, August 31st.
Shares of AMBA stock traded down $1.63 during trading hours on Monday, hitting $35.00. 303,622 shares of the company’s stock were exchanged, compared to its average volume of 537,152. The company has a market capitalization of $1.16 billion, a PE ratio of 63.64 and a beta of 1.13. Ambarella has a 12-month low of $31.41 and a 12-month high of $66.23.
In related news, insider Leslie Kohn sold 6,799 shares of Ambarella 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 $32,509,550.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 10,727 shares of Ambarella stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $35.56, for a total transaction of $381,452.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,609 shares of company stock worth $1,628,876. 5.84% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. AMS Capital Ltda bought a new stake in shares of Ambarella during the 2nd quarter valued at $1,373,000. Pinnacle Associates Ltd. boosted its holdings in shares of Ambarella by 5.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 953,325 shares of the semiconductor company’s stock valued at $36,808,000 after buying an additional 52,391 shares in the last quarter. Marathon Capital Management bought a new stake in shares of Ambarella during the 2nd quarter valued at $270,000. ING Groep NV boosted its holdings in shares of Ambarella by 846.4% during the 2nd quarter. ING Groep NV now owns 137,225 shares of the semiconductor company’s stock valued at $5,298,000 after buying an additional 122,725 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Ambarella by 11.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 23,759 shares of the semiconductor company’s stock valued at $918,000 after buying an additional 2,533 shares in the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.
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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