Ambarella Inc. (NASDAQ:AMBA)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity in a research report issued on Monday. They currently have a $87.00 price target on the stock. Canaccord Genuity’s price target points to a potential upside of 37.42% from the stock’s previous close.
Several other research firms have also recently commented on AMBA. Vetr cut shares of Ambarella from a “buy” rating to a “sell” rating and set a $62.36 price target on the stock. in a research note on Wednesday, August 24th. Deutsche Bank AG reissued a “hold” rating and set a $68.00 price target on shares of Ambarella in a research note on Friday, September 16th. Zacks Investment Research cut shares of Ambarella from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 1st. FBN Securities reissued an “outperform” rating and set a $80.00 price target (up from $60.00) on shares of Ambarella in a research note on Tuesday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Ambarella in a research note on Friday, September 2nd. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Ambarella presently has an average rating of “Buy” and an average price target of $70.03.
Ambarella (NASDAQ:AMBA) traded down 3.14% on Monday, hitting $63.31. The company’s stock had a trading volume of 601,574 shares. Ambarella has a 1-year low of $33.39 and a 1-year high of $74.95. The company has a market capitalization of $2.07 billion, a P/E ratio of 47.67 and a beta of 1.63. The company has a 50 day moving average price of $61.82 and a 200-day moving average price of $58.18.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.02 million. During the same period in the prior year, the firm earned $0.88 earnings per share. Ambarella’s revenue was down 22.7% compared to the same quarter last year. On average, equities analysts forecast that Ambarella will post $2.64 earnings per share for the current fiscal year.
In other Ambarella news, CEO Feng-Ming Wang sold 9,573 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $67.98, for a total value of $650,772.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 4,272 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $69.32, for a total transaction of $296,135.04. Following the completion of the sale, the vice president now owns 23,922 shares in the company, valued at $1,658,273.04. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Ambarella by 373.3% in the third quarter. JPMorgan Chase & Co. now owns 1,893 shares of the company’s stock valued at $139,000 after buying an additional 1,493 shares during the period. Smithfield Trust Co. raised its stake in shares of Ambarella by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,000 shares of the company’s stock worth $102,000 after buying an additional 1,000 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock worth $106,000 after buying an additional 316 shares during the last quarter. Strs Ohio bought a new stake in shares of Ambarella during the third quarter worth approximately $154,000. Finally, US Bancorp DE raised its stake in shares of Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock worth $107,000 after buying an additional 197 shares during the last quarter. Institutional investors own 51.62% of the company’s stock.
Ambarella Company Profile