Ambarella (NASDAQ:AMBA) Upgraded by Stifel Nicolaus to “Buy”

Ambarella (NASDAQ:AMBA) was upgraded by stock analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. Cfra lifted their price objective on Ambarella from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. BidaskClub cut Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, March 10th. Roth Capital increased their target price on Ambarella from to in a report on Wednesday, March 4th. Bank of America restated a “sell” rating and set a $53.00 target price on shares of Ambarella in a research report on Wednesday, March 11th. Finally, Craig Hallum lowered Ambarella from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research note on Wednesday, March 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.20.

Ambarella stock traded up $1.17 on Wednesday, hitting $46.88. The company’s stock had a trading volume of 661,900 shares, compared to its average volume of 687,597. The firm has a market cap of $1.43 billion, a P/E ratio of -34.47 and a beta of 1.19. The company has a quick ratio of 8.42, a current ratio of 8.81 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $56.21 and a 200-day moving average price of $57.73. Ambarella has a one year low of $36.02 and a one year high of $73.59.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, March 3rd. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $57.21 million during the quarter, compared to the consensus estimate of $57.18 million. Ambarella had a negative net margin of 19.58% and a negative return on equity of 9.60%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. Analysts anticipate that Ambarella will post -1.32 EPS for the current year.

In other news, VP Christopher Day sold 2,113 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $38.99, for a total value of $82,385.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Leslie Kohn sold 6,607 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $38.99, for a total value of $257,606.93. Following the completion of the sale, the chief technology officer now owns 942,174 shares of the company’s stock, valued at $36,735,364.26. The disclosure for this sale can be found here. Insiders sold 30,835 shares of company stock valued at $1,207,398 in the last quarter. 6.31% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of AMBA. Nuveen Asset Management LLC lifted its position in shares of Ambarella by 3.2% during the fourth quarter. Nuveen Asset Management LLC now owns 129,252 shares of the semiconductor company’s stock worth $7,827,000 after purchasing an additional 3,971 shares in the last quarter. Norges Bank acquired a new stake in shares of Ambarella in the fourth quarter valued at approximately $12,106,000. Geode Capital Management LLC increased its holdings in shares of Ambarella by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 463,987 shares of the semiconductor company’s stock valued at $28,099,000 after purchasing an additional 19,574 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Ambarella in the fourth quarter valued at approximately $125,000. Finally, Alliancebernstein L.P. raised its position in Ambarella by 4.6% in the 4th quarter. Alliancebernstein L.P. now owns 43,200 shares of the semiconductor company’s stock worth $2,616,000 after purchasing an additional 1,900 shares during the last quarter. 76.85% of the stock is currently owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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