Ambarella (NASDAQ:AMBA) PT Lowered to $50.00

Ambarella (NASDAQ:AMBA) had its target price dropped by investment analysts at Bank of America from $62.00 to $50.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the semiconductor company’s stock. Bank of America‘s price target would suggest a potential upside of 14.52% from the company’s previous close.

AMBA has been the topic of several other research reports. Wells Fargo & Company downgraded Ambarella from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $85.00 to $65.00 in a research note on Wednesday, January 3rd. Susquehanna increased their target price on Ambarella from $70.00 to $80.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Morgan Stanley increased their target price on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. StockNews.com upgraded Ambarella to a “sell” rating in a report on Saturday, April 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Ambarella in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.08.

Ambarella Trading Down 1.9 %

AMBA stock opened at $43.66 on Tuesday. Ambarella has a 1-year low of $43.23 and a 1-year high of $89.18. The firm has a market cap of $1.79 billion, a P/E ratio of -10.30 and a beta of 1.66. The business’s 50 day moving average is $52.33 and its 200-day moving average is $54.09.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.03. Ambarella had a negative return on equity of 23.78% and a negative net margin of 74.81%. The company had revenue of $51.62 million for the quarter, compared to analyst estimates of $51.68 million. Sell-side analysts forecast that Ambarella will post -3.53 EPS for the current year.

Insider Activity

In related news, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at approximately $39,742,758.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at approximately $39,742,758.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chan W. Lee sold 1,075 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $52,965.25. Following the completion of the sale, the chief operating officer now owns 124,146 shares of the company’s stock, valued at $6,116,673.42. The disclosure for this sale can be found here. Insiders sold 6,648 shares of company stock worth $327,595 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Ambarella by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock worth $250,831,000 after acquiring an additional 69,864 shares during the last quarter. BlackRock Inc. lifted its position in Ambarella by 14.9% during the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after acquiring an additional 522,698 shares during the last quarter. Macquarie Group Ltd. lifted its position in Ambarella by 61.9% during the second quarter. Macquarie Group Ltd. now owns 1,640,233 shares of the semiconductor company’s stock worth $107,370,000 after acquiring an additional 626,893 shares during the last quarter. State Street Corp lifted its position in Ambarella by 1.7% during the second quarter. State Street Corp now owns 1,459,029 shares of the semiconductor company’s stock worth $122,077,000 after acquiring an additional 24,745 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Ambarella by 3.2% during the first quarter. Invesco Ltd. now owns 1,296,706 shares of the semiconductor company’s stock worth $136,050,000 after acquiring an additional 39,945 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.