Ambarella Inc (NASDAQ:AMBA) Receives $60.92 Consensus Price Target from Brokerages

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Shares of Ambarella Inc (NASDAQ:AMBA) have been assigned an average rating of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $59.77.

Several brokerages have commented on AMBA. Roth Capital lowered their price objective on shares of Ambarella from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, June 26th. Bank of America lifted their target price on shares of Ambarella from $44.00 to $50.00 and gave the company an “underperform” rating in a report on Wednesday, June 3rd. Rosenblatt Securities assumed coverage on shares of Ambarella in a report on Monday, June 22nd. They set a “buy” rating and a $60.00 target price for the company. Craig Hallum lowered their target price on shares of Ambarella from $68.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Finally, Stifel Nicolaus lifted their target price on shares of Ambarella from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 28th.

In related news, VP Christopher Day sold 1,267 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $45.92, for a total transaction of $58,180.64. Following the completion of the sale, the vice president now owns 8,632 shares of the company’s stock, valued at $396,381.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 1,500 shares of Ambarella stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $54.67, for a total transaction of $82,005.00. Insiders have sold 15,775 shares of company stock valued at $859,585 in the last three months. 6.31% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of AMBA. FMR LLC grew its position in Ambarella by 2,202.9% in the 4th quarter. FMR LLC now owns 647,356 shares of the semiconductor company’s stock worth $39,204,000 after purchasing an additional 619,245 shares during the period. Morgan Stanley grew its position in Ambarella by 142.8% in the 1st quarter. Morgan Stanley now owns 732,675 shares of the semiconductor company’s stock worth $35,579,000 after purchasing an additional 430,915 shares during the period. Frontier Capital Management Co. LLC bought a new stake in Ambarella in the 1st quarter worth approximately $17,623,000. Renaissance Technologies LLC grew its position in Ambarella by 37.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,084,633 shares of the semiconductor company’s stock worth $65,685,000 after purchasing an additional 297,407 shares during the period. Finally, State Street Corp grew its position in Ambarella by 43.7% in the 4th quarter. State Street Corp now owns 932,063 shares of the semiconductor company’s stock worth $56,446,000 after purchasing an additional 283,255 shares during the period. 75.11% of the stock is owned by institutional investors and hedge funds.

AMBA traded down $0.02 on Friday, hitting $45.21. The company had a trading volume of 378,141 shares, compared to its average volume of 710,492. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.91 and a quick ratio of 8.48. Ambarella has a 52-week low of $36.02 and a 52-week high of $73.59. The stock has a fifty day simple moving average of $52.59 and a 200-day simple moving average of $54.96. The firm has a market capitalization of $1.57 billion, a P/E ratio of -35.37 and a beta of 1.27.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, June 2nd. The semiconductor company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Ambarella had a negative net margin of 18.18% and a negative return on equity of 9.00%. The business had revenue of $54.60 million during the quarter, compared to analyst estimates of $54.32 million. During the same period last year, the business posted $0.01 earnings per share. Ambarella’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts expect that Ambarella will post -1.52 earnings per share for the current fiscal year.

Ambarella Company Profile

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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