Ambarella (NASDAQ:AMBA) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Ambarella (NASDAQ:AMBA) from a sell rating to a hold rating in a research note published on Thursday morning, BidAskClub reports.

A number of other brokerages have also recently weighed in on AMBA. Stifel Nicolaus boosted their price objective on Ambarella from $60.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 28th. Bank of America boosted their price objective on Ambarella from $44.00 to $50.00 and gave the company an underperform rating in a research note on Wednesday, June 3rd. Zacks Investment Research upgraded Ambarella from a sell rating to a hold rating and set a $47.00 price objective for the company in a research note on Tuesday, June 30th. Needham & Company LLC boosted their price objective on Ambarella from $55.00 to $63.00 and gave the company a buy rating in a research note on Thursday, September 3rd. They noted that the move was a valuation call. Finally, Oppenheimer reissued a hold rating on shares of Ambarella in a report on Thursday, September 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Ambarella presently has an average rating of Hold and an average price target of $62.69.

Shares of NASDAQ:AMBA opened at $53.03 on Thursday. The business has a 50-day moving average price of $48.69 and a 200 day moving average price of $49.32. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -37.88 and a beta of 1.22. Ambarella has a 12-month low of $36.02 and a 12-month high of $73.59.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.08. The firm had revenue of $50.10 million during the quarter, compared to the consensus estimate of $50.00 million. Ambarella had a negative return on equity of 10.04% and a negative net margin of 20.67%. The company’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. On average, sell-side analysts expect that Ambarella will post -1.39 EPS for the current year.

In other Ambarella news, CEO Feng-Ming Wang sold 5,343 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $53.18, for a total value of $284,140.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin C. Eichler sold 4,336 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $53.18, for a total value of $230,588.48. The disclosure for this sale can be found here. Insiders sold 18,162 shares of company stock worth $952,795 in the last three months. 5.69% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Krane Funds Advisors LLC grew its stake in shares of Ambarella by 6.2% in the first quarter. Krane Funds Advisors LLC now owns 4,481 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 261 shares in the last quarter. California State Teachers Retirement System grew its stake in Ambarella by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 49,488 shares of the semiconductor company’s stock valued at $2,267,000 after purchasing an additional 299 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Ambarella by 5.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,047 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 345 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ambarella by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 130,387 shares of the semiconductor company’s stock valued at $6,332,000 after purchasing an additional 373 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ambarella by 22.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,402 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.

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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