Ambarella (AMBA) Upgraded at Oppenheimer
Oppenheimer upgraded shares of Ambarella (NASDAQ:AMBA) from a market perform rating to a buy rating in a research note issued to investors on Wednesday morning. Oppenheimer currently has $70.00 price target on the semiconductor company’s stock. Oppenheimer also issued estimates for Ambarella’s FY2020 earnings at $0.55 EPS.
A number of other brokerages also recently issued reports on AMBA. Needham & Company LLC reiterated a hold rating on shares of Ambarella in a report on Friday, December 1st. UBS Group upgraded shares of Ambarella from a market perform rating to an outperform rating in a report on Wednesday. Vetr downgraded shares of Ambarella from a buy rating to a hold rating and set a $61.51 price target for the company. in a report on Thursday, December 28th. BidaskClub downgraded shares of Ambarella from a hold rating to a sell rating in a report on Thursday, December 7th. Finally, Morgan Stanley increased their price target on shares of Ambarella from $60.00 to $65.00 and gave the company an overweight rating in a report on Wednesday, December 13th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $60.14.
Shares of Ambarella (NASDAQ:AMBA) opened at $63.62 on Wednesday. The company has a market cap of $2,130.00, a price-to-earnings ratio of 61.17, a PEG ratio of 6.13 and a beta of 1.59. Ambarella has a 52 week low of $40.06 and a 52 week high of $66.23.
In other Ambarella news, VP Yun-Lung Chen sold 11,340 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $59.80, for a total transaction of $678,132.00. Following the completion of the transaction, the vice president now directly owns 11,386 shares in the company, valued at approximately $680,882.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 8,851 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $57.69, for a total transaction of $510,614.19. Following the transaction, the chief executive officer now owns 293,267 shares of the company’s stock, valued at $16,918,573.23. The disclosure for this sale can be found here. Insiders have sold a total of 36,553 shares of company stock valued at $2,145,108 over the last 90 days. 5.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Ambarella by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock worth $109,000 after buying an additional 337 shares in the last quarter. Turner Investments LLC purchased a new stake in shares of Ambarella during the third quarter worth about $172,000. Amalgamated Bank grew its holdings in shares of Ambarella by 3.6% during the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock worth $200,000 after buying an additional 143 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Ambarella during the third quarter worth about $213,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Ambarella during the third quarter worth about $216,000. Institutional investors and hedge funds own 63.01% of the company’s stock.
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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.
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