Ambarella (NASDAQ:AMBA) Upgraded by BidaskClub to “Buy”

Ambarella (NASDAQ:AMBA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. Morgan Stanley lifted their target price on Ambarella from $61.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Bank of America lifted their target price on Ambarella from $50.00 to $53.00 and gave the company an “underperform” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their target price on Ambarella from $54.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Finally, Craig Hallum lifted their target price on Ambarella from $62.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Ambarella currently has an average rating of “Hold” and a consensus target price of $62.89.

Shares of NASDAQ:AMBA opened at $71.52 on Friday. The company has a market cap of $2.40 billion, a P/E ratio of -64.43 and a beta of 1.31. The company has a quick ratio of 8.42, a current ratio of 8.81 and a debt-to-equity ratio of 0.02. Ambarella has a 52 week low of $36.68 and a 52 week high of $73.59. The business has a fifty day simple moving average of $62.29 and a 200-day simple moving average of $56.61.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Monday, November 25th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.54. Ambarella had a negative return on equity of 9.51% and a negative net margin of 16.33%. The firm had revenue of $67.90 million for the quarter, compared to analysts’ expectations of $65.00 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts expect that Ambarella will post -1.02 earnings per share for the current fiscal year.

In other Ambarella news, VP Christopher Day sold 641 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $56.31, for a total transaction of $36,094.71. Following the transaction, the vice president now owns 6,705 shares in the company, valued at $377,558.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Leslie Kohn sold 3,420 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $56.31, for a total value of $192,580.20. Following the transaction, the chief technology officer now owns 930,191 shares in the company, valued at approximately $52,379,055.21. The disclosure for this sale can be found here. Insiders sold 12,808 shares of company stock worth $724,919 in the last quarter. 6.31% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of Ambarella by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,826 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 227 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of Ambarella by 1.4% during the fourth quarter. Granite Investment Partners LLC now owns 24,809 shares of the semiconductor company’s stock worth $1,502,000 after purchasing an additional 339 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Ambarella by 115.8% during the third quarter. Tower Research Capital LLC TRC now owns 751 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 403 shares in the last quarter. First National Bank of Omaha lifted its stake in shares of Ambarella by 1.7% during the third quarter. First National Bank of Omaha now owns 25,634 shares of the semiconductor company’s stock worth $1,611,000 after purchasing an additional 417 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Ambarella by 9.5% during the fourth quarter. Amalgamated Bank now owns 5,347 shares of the semiconductor company’s stock worth $324,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 74.71% of the company’s stock.

About Ambarella

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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Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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