Ambarella, Inc. (NASDAQ:AMBA) Receives $96.00 Consensus Price Target from Brokerages

Ambarella, Inc. (NASDAQ:AMBA) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $96.00.

AMBA has been the subject of several recent analyst reports. Rosenblatt Securities raised their price objective on Ambarella from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Ambarella in a research report on Wednesday, January 21st. Roth Mkm reaffirmed a “neutral” rating on shares of Ambarella in a research note on Wednesday, November 26th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price (up from $90.00) on shares of Ambarella in a report on Wednesday, November 26th. Finally, Summit Insights raised Ambarella from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th.

Ambarella Stock Down 2.9%

Shares of AMBA opened at $52.42 on Tuesday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -29.45 and a beta of 1.95. Ambarella has a 52-week low of $38.86 and a 52-week high of $96.69. The stock has a 50 day moving average price of $65.02 and a 200 day moving average price of $75.17.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $100.87 million during the quarter, compared to analysts’ expectations of $100.17 million. Ambarella had a negative return on equity of 12.24% and a negative net margin of 19.42%.The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. On average, equities analysts anticipate that Ambarella will post -2.81 EPS for the current fiscal year.

Insider Transactions at Ambarella

In other news, CFO John Alexander Young sold 3,791 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $72.96, for a total transaction of $276,591.36. Following the completion of the transaction, the chief financial officer owned 102,738 shares of the company’s stock, valued at $7,495,764.48. This represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chan W. Lee sold 2,406 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $71.82, for a total transaction of $172,798.92. Following the completion of the sale, the insider directly owned 124,566 shares in the company, valued at $8,946,330.12. This represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 77,685 shares of company stock worth $5,056,598 in the last three months. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Ambarella by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 5,480,285 shares of the semiconductor company’s stock valued at $388,223,000 after buying an additional 311,649 shares during the period. State Street Corp increased its position in shares of Ambarella by 8.9% in the second quarter. State Street Corp now owns 1,855,170 shares of the semiconductor company’s stock worth $122,562,000 after acquiring an additional 151,694 shares in the last quarter. Jericho Capital Asset Management L.P. raised its stake in shares of Ambarella by 30.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock valued at $112,429,000 after acquiring an additional 373,734 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,371,511 shares of the semiconductor company’s stock valued at $90,609,000 after acquiring an additional 52,954 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ambarella by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,020,527 shares of the semiconductor company’s stock valued at $72,305,000 after acquiring an additional 35,510 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.