Ambarella, Inc. (NASDAQ:AMBA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ambarella, Inc. (NASDAQ:AMBA) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $74.09.

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Stifel Nicolaus upped their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Susquehanna lowered their price objective on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research note on Monday, October 21st.

Ambarella Price Performance

AMBA opened at $68.41 on Wednesday. The firm has a market capitalization of $2.82 billion, a PE ratio of -15.58 and a beta of 1.63. The business’s 50-day moving average is $57.95 and its two-hundred day moving average is $54.73. Ambarella has a 1 year low of $39.69 and a 1 year high of $69.55.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) earnings per share. As a group, sell-side analysts expect that Ambarella will post -3 EPS for the current year.

Insider Buying and Selling at Ambarella

In other news, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $114,522.06. Following the transaction, the chief financial officer now owns 103,529 shares of the company’s stock, valued at approximately $5,542,942.66. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ambarella

Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its holdings in Ambarella by 592.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after buying an additional 22,144 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Ambarella in the 3rd quarter valued at about $1,530,000. SWS Partners raised its holdings in Ambarella by 25.3% in the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after purchasing an additional 16,049 shares during the period. Millennium Management LLC boosted its position in Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Ambarella in the first quarter valued at approximately $571,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.