KeyCorp Reaffirms “Hold” Rating for Ambarella, Inc. (AMBA)

Ambarella, Inc. (NASDAQ:AMBA)‘s stock had its “hold” rating restated by stock analysts at KeyCorp in a research note issued on Friday, November 3rd.

Other analysts have also issued research reports about the stock. Craig Hallum lowered shares of Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, September 1st. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a report on Friday, September 1st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ambarella in a report on Friday, September 1st. Canaccord Genuity decreased their price objective on shares of Ambarella from $72.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, September 5th. Finally, ValuEngine upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.77.

Ambarella (NASDAQ:AMBA) traded up $0.73 on Friday, reaching $57.71. 794,004 shares of the company’s stock traded hands, compared to its average volume of 1,006,790. Ambarella has a 52-week low of $40.06 and a 52-week high of $65.78. The firm has a market cap of $1,920.00, a PE ratio of 36.30, a PEG ratio of 5.96 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The firm had revenue of $71.63 million during the quarter, compared to analysts’ expectations of $70.79 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. equities research analysts expect that Ambarella will post 0.64 earnings per share for the current fiscal year.

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In other news, insider Leslie Kohn sold 6,467 shares of Ambarella stock in a transaction on Monday, September 18th. The stock was sold at an average price of $46.50, for a total transaction of $300,715.50. Following the sale, the insider now directly owns 907,645 shares in the company, valued at approximately $42,205,492.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Day sold 1,529 shares of Ambarella stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $71,098.50. The disclosure for this sale can be found here. In the last three months, insiders sold 27,835 shares of company stock valued at $1,301,265. 5.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AMBA. Pinnacle Associates Ltd. grew its holdings in shares of Ambarella by 54.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock worth $49,720,000 after purchasing an additional 359,417 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Ambarella in the 3rd quarter worth approximately $17,534,000. AXA lifted its position in Ambarella by 100.6% in the 2nd quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after buying an additional 355,170 shares during the last quarter. Rothschild Asset Management Inc. bought a new stake in Ambarella in the 2nd quarter worth approximately $16,083,000. Finally, Eagle Asset Management Inc. lifted its position in Ambarella by 36.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock worth $55,949,000 after buying an additional 306,248 shares during the last quarter. 59.92% of the stock is owned by institutional investors.

Ambarella Company Profile

Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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