Ambarella (NASDAQ:AMBA) Upgraded at StockNews.com

StockNews.com upgraded shares of Ambarella (NASDAQ:AMBA) to a sell rating in a report issued on Friday morning.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company lowered shares of Ambarella from an overweight rating to an equal weight rating and cut their target price for the stock from $85.00 to $65.00 in a research report on Wednesday, January 3rd. Morgan Stanley upped their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Bank of America cut their target price on shares of Ambarella from $62.00 to $50.00 and set an underperform rating for the company in a research report on Tuesday, April 16th. Susquehanna boosted their price target on shares of Ambarella from $70.00 to $80.00 and gave the stock a positive rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC reissued a buy rating and issued a $90.00 price target on shares of Ambarella in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ambarella has an average rating of Hold and a consensus price target of $71.08.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $43.09 on Friday. Ambarella has a 52-week low of $40.31 and a 52-week high of $89.18. The firm has a fifty day moving average of $50.42 and a 200 day moving average of $53.49. The firm has a market capitalization of $1.76 billion, a PE ratio of -10.16 and a beta of 1.66.

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

Insider Activity

In other news, CEO Feng-Ming Wang sold 2,173 shares of the company’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 $107,063.71. Following the completion of the transaction, the chief executive officer now directly owns 806,632 shares of the company’s stock, valued at $39,742,758.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO John Alexander Young sold 1,546 shares of the company’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 $76,171.42. Following the completion of the transaction, the chief financial officer now directly owns 107,571 shares of the company’s stock, valued at $5,300,023.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 2,173 shares of the company’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 $107,063.71. Following the transaction, the chief executive officer now directly owns 806,632 shares of the company’s stock, valued at $39,742,758.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,648 shares of company stock valued at $327,595. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Several hedge funds and other institutional investors have recently modified their holdings of AMBA. Vanguard Group Inc. increased its position in shares of Ambarella by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock valued at $250,831,000 after buying an additional 69,864 shares during the period. Kodai Capital Management LP purchased a new position in shares of Ambarella during the fourth quarter valued at about $65,543,000. Dimensional Fund Advisors LP increased its position in shares of Ambarella by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after buying an additional 29,379 shares during the period. Rokos Capital Management LLP increased its position in shares of Ambarella by 121.0% during the third quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock valued at $34,626,000 after buying an additional 355,689 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Ambarella by 24.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 533,964 shares of the semiconductor company’s stock valued at $32,727,000 after buying an additional 104,072 shares during the period. 82.09% of the stock is owned by institutional investors.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.