Brokerages Set Ambarella Inc (NASDAQ:AMBA) Price Target at $45.88

Shares of Ambarella Inc (NASDAQ:AMBA) have received an average rating of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, three have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $45.88.

AMBA has been the topic of a number of recent research reports. ValuEngine upgraded Ambarella from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. BidaskClub downgraded Ambarella from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America restated an “underperform” rating and set a $42.00 price objective (up from $36.00) on shares of Ambarella in a research report on Wednesday, June 5th. Needham & Company LLC downgraded Ambarella from a “hold” rating to an “underperform” rating in a research report on Wednesday, June 5th. Finally, Northland Securities restated a “buy” rating and set a $45.00 price objective on shares of Ambarella in a research report on Monday, July 8th.

In other news, VP Christopher Day sold 2,490 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $43.98, for a total value of $109,510.20. Following the sale, the vice president now directly owns 8,604 shares in the company, valued at $378,403.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $41.93, for a total value of $41,930.00. Following the completion of the sale, the director now owns 21,621 shares in the company, valued at $906,568.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,201 shares of company stock worth $655,716. Company insiders own 6.31% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AMBA. Aperio Group LLC purchased a new stake in shares of Ambarella in the second quarter worth approximately $89,000. Belpointe Asset Management LLC bought a new position in Ambarella in the first quarter worth approximately $119,000. Bank of Montreal Can grew its stake in Ambarella by 1,338.5% in the second quarter. Bank of Montreal Can now owns 2,877 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 2,677 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Ambarella in the first quarter worth approximately $233,000. Finally, Gamco Investors INC. ET AL bought a new position in Ambarella in the first quarter worth approximately $244,000. Hedge funds and other institutional investors own 73.30% of the company’s stock.

NASDAQ:AMBA opened at $45.32 on Wednesday. The company has a quick ratio of 9.42, a current ratio of 9.84 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.50 billion, a P/E ratio of -40.83 and a beta of 1.31. Ambarella has a 12 month low of $30.00 and a 12 month high of $52.12. The stock has a 50-day moving average price of $46.35.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, June 4th. The semiconductor company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). The firm had revenue of $47.19 million during the quarter, compared to analysts’ expectations of $47.01 million. Ambarella had a negative return on equity of 10.24% and a negative net margin of 17.32%. Equities research analysts predict that Ambarella will post -1.28 earnings per share for the current year.

About Ambarella

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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Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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