Ambarella (NASDAQ:AMBA) PT Lowered to $96.00 at Jefferies Financial Group

Ambarella (NASDAQ:AMBAGet Rating) had its price objective reduced by Jefferies Financial Group from $104.00 to $96.00 in a research report report published on Monday morning, The Fly reports. Jefferies Financial Group also issued estimates for Ambarella’s Q3 2023 earnings at ($0.44) EPS, Q4 2023 earnings at ($0.44) EPS, FY2023 earnings at ($1.57) EPS, Q1 2024 earnings at ($0.45) EPS, Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.33) EPS and FY2024 earnings at ($1.58) EPS.

AMBA has been the subject of a number of other reports. Needham & Company LLC dropped their price target on shares of Ambarella from $110.00 to $90.00 and set a buy rating for the company in a research report on Tuesday, October 11th. Rosenblatt Securities cut their target price on shares of Ambarella from $125.00 to $110.00 and set a buy rating on the stock in a report on Wednesday, August 31st. KeyCorp dropped their price objective on shares of Ambarella from $120.00 to $100.00 and set an overweight rating on the stock in a research note on Wednesday, August 31st. Roth Capital reaffirmed a buy rating and set a $110.00 price target on shares of Ambarella in a research note on Friday, November 18th. Finally, Summit Insights cut shares of Ambarella from a buy rating to a hold rating in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $109.33.

Ambarella Price Performance

AMBA stock opened at $72.17 on Monday. The business has a 50-day moving average price of $59.20 and a 200 day moving average price of $70.14. The company has a market capitalization of $2.77 billion, a P/E ratio of -63.31 and a beta of 1.48. Ambarella has a 1-year low of $49.02 and a 1-year high of $227.59.

Ambarella (NASDAQ:AMBAGet Rating) last issued its quarterly earnings results on Tuesday, August 30th. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). Ambarella had a negative net margin of 12.14% and a negative return on equity of 6.88%. The company had revenue of $80.90 million for the quarter, compared to analyst estimates of $80.21 million. During the same quarter in the previous year, the company posted ($0.18) EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Ambarella will post -1.55 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In other news, COO Chan W. Lee sold 2,072 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $63.25, for a total value of $131,054.00. Following the completion of the sale, the chief operating officer now directly owns 64,897 shares of the company’s stock, valued at $4,104,735.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ambarella news, CTO Leslie Kohn sold 6,179 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $58.95, for a total value of $364,252.05. Following the sale, the chief technology officer now owns 899,478 shares of the company’s stock, valued at approximately $53,024,228.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Chan W. Lee sold 2,072 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $63.25, for a total value of $131,054.00. Following the sale, the chief operating officer now directly owns 64,897 shares in the company, valued at approximately $4,104,735.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,246 shares of company stock valued at $937,852. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMBA. Standard Family Office LLC bought a new stake in Ambarella in the 1st quarter valued at about $42,000. Newbridge Financial Services Group Inc. bought a new stake in Ambarella in the 2nd quarter valued at about $26,000. Prospera Financial Services Inc bought a new stake in Ambarella during the 1st quarter worth approximately $52,000. Daiwa Securities Group Inc. boosted its stake in shares of Ambarella by 45.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 619 shares of the semiconductor company’s stock worth $65,000 after buying an additional 194 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Ambarella by 101.9% in the 3rd quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock worth $36,000 after buying an additional 327 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

About Ambarella

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Ambarella, Inc develops semiconductor solutions for video 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.

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