Ambarella (AMBA) Trading 4.8% Higher After Analyst Upgrade

Ambarella Inc (NASDAQ:AMBA) shares traded up 4.8% during mid-day trading on Monday after Roth Capital raised their price target on the stock to $40.00. Roth Capital currently has a neutral rating on the stock. Ambarella traded as high as $40.65 and last traded at $41.91. 43,663 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 739,582 shares. The stock had previously closed at $39.99.

AMBA has been the subject of several other reports. ValuEngine upgraded shares of Ambarella from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Cowen cut their target price on shares of Ambarella from $65.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 31st. Deutsche Bank lowered their price target on shares of Ambarella from $44.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, August 31st. BidaskClub downgraded shares of Ambarella from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. Finally, Zacks Investment Research raised shares of Ambarella from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Ambarella has a consensus rating of “Hold” and an average target price of $48.95.

In other Ambarella news, insider Leslie Kohn sold 6,799 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $35.46, for a total value of $241,092.54. Following the completion of the sale, the insider now directly owns 916,795 shares of the company’s stock, valued at $32,509,550.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Feng-Ming Wang sold 10,727 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $35.56, for a total transaction of $381,452.12. The disclosure for this sale can be found here. Insiders sold 43,609 shares of company stock valued at $1,628,876 over the last three months. 5.84% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of AMBA. Alps Advisors Inc. bought a new position in shares of Ambarella during the second quarter valued at about $264,000. Marathon Capital Management bought a new position in shares of Ambarella during the second quarter valued at about $270,000. Centaurus Financial Inc. bought a new position in shares of Ambarella during the second quarter valued at about $280,000. OLD National Bancorp IN bought a new position in shares of Ambarella during the third quarter valued at about $288,000. Finally, Krane Funds Advisors LLC raised its stake in shares of Ambarella by 70.0% during the second quarter. Krane Funds Advisors LLC now owns 7,630 shares of the semiconductor company’s stock valued at $295,000 after acquiring an additional 3,142 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $1.28 billion, a P/E ratio of 77.00 and a beta of 1.08.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, November 29th. The semiconductor company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $57.30 million for the quarter, compared to the consensus estimate of $57.12 million. Ambarella had a negative net margin of 9.97% and a negative return on equity of 5.21%. The business’s revenue was down 35.7% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. As a group, sell-side analysts predict that Ambarella Inc will post -0.93 EPS for the current fiscal year.

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About Ambarella (NASDAQ:AMBA)

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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