Trade Report: The Ambarella Inc. (AMBA) Upgraded by Vetr Inc. to “Buy”

The Ambarella Inc. (AMBA) Upgraded by Vetr Inc. to “Buy”

Vetr upgraded shares of Ambarella Inc. (NASDAQ:AMBA) from a hold rating to a buy rating in a research note released on Thursday morning. The firm currently has $74.39 price objective on the stock.

Several other research analysts have also commented on AMBA. Morgan Stanley reaffirmed a buy rating and issued a $78.00 price target on shares of Ambarella in a report on Friday, September 2nd. Zacks Investment Research raised shares of Ambarella from a hold rating to a buy rating and set a $61.00 price target for the company in a report on Tuesday, July 12th. Pacific Crest reaffirmed a buy rating on shares of Ambarella in a report on Friday, September 2nd. Needham & Company LLC reaffirmed a hold rating on shares of Ambarella in a report on Friday, September 2nd. Finally, KeyCorp lifted their price target on shares of Ambarella from $53.00 to $75.00 and gave the company an overweight rating in a report on Tuesday, August 30th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ambarella presently has a consensus rating of Buy and an average target price of $69.96.

Ambarella (NASDAQ:AMBA) traded down 2.21% during mid-day trading on Thursday, hitting $69.90. 429,711 shares of the stock traded hands. Ambarella has a 12-month low of $33.39 and a 12-month high of $74.95. The firm has a market cap of $2.29 billion, a PE ratio of 52.64 and a beta of 1.50. The stock has a 50 day moving average price of $68.62 and a 200 day moving average price of $53.30.

Ambarella (NASDAQ:AMBA) last posted 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 earned $65.10 million during the quarter, compared to analyst estimates of $64.02 million. During the same period in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was down 22.7% on a year-over-year basis. On average, analysts expect that Ambarella will post $2.64 earnings per share for the current fiscal year.

In related news, VP Christopher Day sold 4,272 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $69.32, for a total value of $296,135.04. Following the sale, the vice president now directly owns 23,922 shares in the company, valued at approximately $1,658,273.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yun-Lung Chen sold 4,197 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $74.19, for a total transaction of $311,375.43. Following the completion of the sale, the vice president now owns 13,530 shares in the company, valued at $1,003,790.70. The disclosure for this sale can be found here. Company insiders own 5.43% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. acquired a new stake in Ambarella during the second quarter worth approximately $36,083,000. Capital One National Association increased its stake in Ambarella by 12.5% in the second quarter. Capital One National Association now owns 112,823 shares of the company’s stock worth $5,732,000 after buying an additional 12,524 shares during the last quarter. Creative Planning increased its stake in Ambarella by 38.7% in the second quarter. Creative Planning now owns 11,081 shares of the company’s stock worth $563,000 after buying an additional 3,091 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Ambarella by 161.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,615 shares of the company’s stock worth $133,000 after buying an additional 1,615 shares during the last quarter. Finally, Curbstone Financial Management Corp acquired a new stake in Ambarella during the second quarter worth approximately $421,000. Institutional investors and hedge funds own 51.33% of the company’s stock.

Ambarella Company Profile

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.

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