Ambarella (AMBA) PT Raised to $65.00 at Morgan Stanley

Ambarella (NASDAQ:AMBA) had its price objective increased by Morgan Stanley from $60.00 to $65.00 in a report released on Wednesday morning. Morgan Stanley currently has an overweight rating on the semiconductor company’s stock.

Several other research firms have also issued reports on AMBA. ValuEngine upgraded shares of Ambarella from a sell rating to a hold rating in a report on Friday, September 8th. Dougherty & Co lowered 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. Deutsche Bank restated a hold rating and issued a $49.00 target price (down previously from $54.00) on shares of Ambarella in a report on Friday, September 1st. Roth Capital restated a buy rating and issued a $65.00 target price on shares of Ambarella in a report on Thursday, August 31st. Finally, Needham & Company LLC restated a hold rating on shares of Ambarella in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $59.15.

Shares of Ambarella (AMBA) traded down $1.05 during trading hours on Wednesday, hitting $56.51. 1,109,859 shares of the company’s stock were exchanged, compared to its average volume of 1,230,722. Ambarella has a 1-year low of $40.06 and a 1-year high of $65.39. The stock has a market cap of $1,882.18, a PE ratio of 53.82, a P/E/G ratio of 5.47 and a beta of 1.57.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, November 30th. The semiconductor company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Ambarella had a net margin of 11.51% and a return on equity of 7.87%. The business had revenue of $89.06 million during the quarter, compared to analysts’ expectations of $89.41 million. During the same period last year, the company posted $1.11 EPS. The business’s revenue was down 11.4% on a year-over-year basis. analysts forecast that Ambarella will post 0.7 earnings per share for the current year.

In other Ambarella news, CEO Feng-Ming Wang sold 11,629 shares of the business’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 transaction of $540,748.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.23, for a total transaction of $118,460.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,175 shares of company stock worth $2,097,857. 5.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBA. Victory Capital Management Inc. lifted its stake in Ambarella by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 337 shares during the period. Turner Investments LLC acquired a new position in shares of Ambarella in the 3rd quarter valued at $172,000. Amalgamated Bank lifted its stake in shares of Ambarella by 3.6% in the 2nd quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 143 shares during the period. Aperio Group LLC acquired a new position in shares of Ambarella in the 3rd quarter valued at $213,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Ambarella in the 3rd quarter valued at $216,000. Institutional investors and hedge funds own 63.21% of the company’s stock.

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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.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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