Several other research analysts also recently weighed in on AMBA. Bank of America reiterated an “underperform” rating and set a $42.00 price target (up previously from $36.00) on shares of Ambarella in a research note on Wednesday, June 5th. ValuEngine upgraded Ambarella from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. TheStreet downgraded Ambarella from a “c-” rating to a “d+” rating in a research note on Wednesday, June 12th. Northland Securities reiterated a “buy” rating and set a $45.00 price target on shares of Ambarella in a research note on Monday, July 8th. Finally, Needham & Company LLC downgraded Ambarella from a “hold” rating to an “underperform” rating in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.88.
Shares of AMBA stock traded down $0.93 on Thursday, hitting $46.63. 374,934 shares of the stock were exchanged, compared to its average volume of 341,075. The company has a quick ratio of 9.42, a current ratio of 9.84 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -42.01 and a beta of 1.31. Ambarella has a one year low of $30.00 and a one year high of $52.12. The firm has a 50 day moving average price of $45.87.
In related news, VP Christopher Day sold 2,490 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $43.98, for a total transaction of $109,510.20. Following the sale, the vice president now owns 8,604 shares of the company’s stock, valued at approximately $378,403.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $41.93, for a total value of $41,930.00. Following the sale, the director now directly owns 21,621 shares in the company, valued at approximately $906,568.53. The disclosure for this sale can be found here. Insiders have sold a total of 15,201 shares of company stock worth $655,716 in the last three months. 6.31% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC purchased a new stake in shares of Ambarella in the 1st quarter valued at about $27,057,000. FIL Ltd raised its holdings in shares of Ambarella by 112.5% in the 1st quarter. FIL Ltd now owns 554,076 shares of the semiconductor company’s stock valued at $23,936,000 after acquiring an additional 293,373 shares in the last quarter. Columbus Circle Investors purchased a new stake in shares of Ambarella in the 1st quarter valued at about $9,826,000. Wasatch Advisors Inc. raised its holdings in shares of Ambarella by 294.5% in the 1st quarter. Wasatch Advisors Inc. now owns 210,098 shares of the semiconductor company’s stock valued at $9,076,000 after acquiring an additional 156,841 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Ambarella by 19.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 627,373 shares of the semiconductor company’s stock valued at $27,102,000 after acquiring an additional 104,153 shares in the last quarter. 74.59% of the stock is currently owned by institutional investors and hedge funds.
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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