Ambarella (NASDAQ:AMBA) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Ambarella (NASDAQ:AMBA) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other research analysts have also recently weighed in on AMBA. BNP Paribas upgraded shares of Ambarella to a “strong-buy” rating in a report on Friday, August 29th. Northland Securities boosted their target price on Ambarella from $75.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Ambarella in a report on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of Ambarella in a report on Friday, August 29th. Finally, Bank of America boosted their price objective on Ambarella from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ambarella presently has an average rating of “Moderate Buy” and an average target price of $96.00.

Ambarella Price Performance

NASDAQ:AMBA opened at $70.07 on Friday. Ambarella has a one year low of $38.86 and a one year high of $96.69. The company has a market cap of $3.02 billion, a PE ratio of -37.27 and a beta of 1.98. The firm has a 50-day moving average of $80.32 and a 200-day moving average of $75.13.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $108.45 million during the quarter, compared to the consensus estimate of $104.11 million. Ambarella had a negative return on equity of 13.02% and a negative net margin of 21.31%.The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. On average, equities research analysts expect that Ambarella will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Ambarella

In other Ambarella news, insider Chan W. Lee sold 2,406 shares of the stock in a transaction 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 sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Feng-Ming Wang sold 4,950 shares of Ambarella stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $71.82, for a total value of $355,509.00. Following the completion of the transaction, the chief executive officer owned 783,979 shares of the company’s stock, valued at approximately $56,305,371.78. This trade represents a 0.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 30,069 shares of company stock worth $2,304,686. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Stephens Inc. AR grew its holdings in shares of Ambarella by 3.7% during the third quarter. Stephens Inc. AR now owns 3,804 shares of the semiconductor company’s stock worth $314,000 after purchasing an additional 137 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Ambarella by 3.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,537 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 142 shares during the last quarter. Arizona State Retirement System grew its stake in Ambarella by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 11,899 shares of the semiconductor company’s stock worth $982,000 after buying an additional 157 shares in the last quarter. National Bank of Canada FI grew its stake in Ambarella by 18.9% in the 3rd quarter. National Bank of Canada FI now owns 1,146 shares of the semiconductor company’s stock worth $95,000 after buying an additional 182 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Ambarella by 4.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the semiconductor company’s stock worth $275,000 after buying an additional 196 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Company Profile

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.