Ambarella Inc. (NASDAQ:AMBA) had its target price raised by equities researchers at Canaccord Genuity from $86.00 to $87.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 36.12% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Vetr upgraded Ambarella from a “buy” rating to a “strong-buy” rating and set a $74.39 price target for the company in a research report on Wednesday. Zacks Investment Research downgraded Ambarella from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Pacific Crest reiterated a “buy” rating on shares of Ambarella in a research report on Friday, September 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Ambarella in a research report on Friday, September 2nd. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $70.03.
Shares of Ambarella (NASDAQ:AMBA) opened at 63.91 on Wednesday. Ambarella has a 52-week low of $33.39 and a 52-week high of $74.95. The company’s 50-day moving average is $68.86 and its 200 day moving average is $53.99. The company has a market cap of $2.09 billion, a PE ratio of 48.12 and a beta of 1.50.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.16. The firm earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. On average, analysts anticipate that Ambarella will post $2.64 EPS for the current year.
In related news, VP Yun-Lung Chen sold 4,197 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $74.19, for a total value of $311,375.43. Following the sale, the vice president now directly owns 13,530 shares of the company’s stock, valued at $1,003,790.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $69.13, for a total value of $69,130.00. Following the completion of the sale, the director now directly owns 10,014 shares in the company, valued at $692,267.82. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Rice Hall James & Associates LLC boosted its stake in shares of Ambarella by 47.1% in the second quarter. Rice Hall James & Associates LLC now owns 310,746 shares of the company’s stock valued at $15,789,000 after buying an additional 99,502 shares during the last quarter. Credit Agricole S A boosted its stake in shares of Ambarella by 42.9% in the first quarter. Credit Agricole S A now owns 17,000 shares of the company’s stock valued at $760,000 after buying an additional 5,100 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Ambarella during the second quarter valued at $2,215,000. Squarepoint Ops LLC boosted its stake in shares of Ambarella by 941.3% in the first quarter. Squarepoint Ops LLC now owns 48,735 shares of the company’s stock valued at $2,178,000 after buying an additional 44,055 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ambarella during the second quarter valued at $506,000. 51.33% of the stock is currently owned by institutional investors.