Ambarella (AMBA) Lowered to Sell at BidaskClub

BidaskClub cut shares of Ambarella (NASDAQ:AMBA) from a hold rating to a sell rating in a research note released on Thursday.

Several other brokerages also recently weighed in on AMBA. ValuEngine upgraded Ambarella from a sell rating to a hold rating in a research note on Friday, September 8th. Dougherty & Co lowered their target price on Ambarella from $75.00 to $60.00 and set a buy rating on the stock in a research note on Friday, September 1st. Morgan Stanley reiterated an overweight rating and issued a $60.00 target price on shares of Ambarella in a research note on Wednesday, September 27th. Deutsche Bank reiterated a hold rating and issued a $49.00 target price (down from $54.00) on shares of Ambarella in a research note on Friday, September 1st. Finally, Roth Capital reiterated a buy rating and issued a $65.00 target price on shares of Ambarella in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Ambarella presently has a consensus rating of Hold and an average price target of $58.65.

Ambarella (NASDAQ:AMBA) traded up $0.42 during trading hours on Thursday, reaching $59.42. The company had a trading volume of 73,907 shares, compared to its average volume of 1,044,099. Ambarella has a 12-month low of $40.06 and a 12-month high of $65.39. The stock has a market cap of $1,965.08, a P/E ratio of 56.19, a PEG ratio of 5.71 and a beta of 1.57.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Ambarella had a return on equity of 7.92% and a net margin of 11.51%. The company had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. During the same period last year, the business posted $1.11 EPS. The company’s revenue was down 11.4% on a year-over-year basis. research analysts expect that Ambarella will post 0.7 EPS for the current fiscal year.

In related news, insider Leslie Kohn sold 6,467 shares of Ambarella stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $300,715.50. Following the sale, the insider now directly owns 907,645 shares in the company, valued at $42,205,492.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 11,629 shares of Ambarella 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,835 shares of company stock worth $1,301,265. Company insiders own 5.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Ambarella by 2.9% during the second quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock worth $104,169,000 after purchasing an additional 60,770 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in Ambarella by 6.5% during the third quarter. Van Berkom & Associates Inc. now owns 1,316,350 shares of the semiconductor company’s stock worth $64,514,000 after purchasing an additional 80,867 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Ambarella by 36.2% during the second quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock worth $55,949,000 after purchasing an additional 306,248 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Ambarella by 54.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock worth $49,720,000 after purchasing an additional 359,417 shares during the last quarter. Finally, AXA raised its holdings in Ambarella by 17.8% during the third quarter. AXA now owns 834,078 shares of the semiconductor company’s stock worth $40,878,000 after purchasing an additional 125,972 shares during the last quarter. 63.21% of the stock is owned by hedge funds and other institutional investors.

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About Ambarella

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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