Ambarella, Inc. (NASDAQ:AMBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Video compression and image processing semiconductors developer, Ambarella has outperformed the industry in the past three months. We remain encouraged by the company’s efforts toward expanding its reach in other markets, such as IP security, automotive, non-GoPro wearable and drones/flying cameras and simultaneously lower dependency on GoPro. Nonetheless, the company’s disappointing guidance for the forthcoming quarter as well as downbeat revenue outlook for fiscal 2018 makes us increasingly cautious about its near-term prospect. The company faces three main challenges, the risk of losing its largest customer, GoPro; weakness in the drone market and increasing threat from QUALCOMM, which is acquiring NXP Semiconductors to build its presence in the same space. “
Several other analysts have also recently commented on AMBA. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a research note on Friday, September 1st. Craig Hallum downgraded shares of Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Friday, September 1st. Dougherty & Co dropped their target price on shares of Ambarella from $75.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 1st. Roth Capital downgraded shares of Ambarella from a “buy” rating to a “neutral” rating and dropped their target price for the company from $65.00 to $50.00 in a report on Friday, September 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $49.00 price target (down from $54.00) on shares of Ambarella in a research note on Friday, September 1st. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $58.86.
Shares of Ambarella (NASDAQ:AMBA) traded down 0.02% during midday trading on Wednesday, reaching $56.43. 580,929 shares of the company’s stock traded hands. The stock has a market capitalization of $1.87 billion, a P/E ratio of 36.86 and a beta of 1.57. The firm’s 50-day moving average price is $50.23 and its 200 day moving average price is $52.29. Ambarella has a 1-year low of $40.06 and a 1-year high of $65.78.
Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. On average, equities analysts predict that Ambarella will post $1.89 earnings per share for the current fiscal year.
In related news, CEO Feng-Ming Wang sold 11,629 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $540,748.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher Day sold 2,618 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $49.15, for a total transaction of $128,674.70. Following the completion of the sale, the vice president now directly owns 20,377 shares in the company, valued at $1,001,529.55. The disclosure for this sale can be found here. Insiders sold 27,835 shares of company stock worth $1,301,265 over the last three months. Corporate insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMBA. Victory Capital Management Inc. boosted its position in shares of Ambarella by 112.2% in the first quarter. Victory Capital Management Inc. now owns 1,903 shares of the semiconductor company’s stock worth $104,000 after acquiring an additional 1,006 shares during the last quarter. Dubuque Bank & Trust Co. boosted its position in shares of Ambarella by 4.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,793 shares of the semiconductor company’s stock worth $184,000 after acquiring an additional 147 shares during the last quarter. Amalgamated Bank boosted its position in shares of Ambarella by 3.6% in the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 143 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Ambarella in the third quarter worth approximately $213,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Ambarella by 17.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,908 shares of the semiconductor company’s stock worth $238,000 after acquiring an additional 734 shares during the last quarter. 56.84% of the stock is currently owned by institutional investors and hedge funds.
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.
What are top analysts saying about Ambarella Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ambarella Inc. and related companies.