Ambarella (NASDAQ:AMBA) Upgraded to “Sell” at StockNews.com

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

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

Ambarella Price Performance

NASDAQ AMBA opened at $43.09 on Friday. The business has a fifty day moving average price of $50.42 and a two-hundred day moving average price of $53.49. Ambarella has a fifty-two week low of $40.31 and a fifty-two week high of $89.18. The stock has a market capitalization of $1.76 billion, a PE ratio of -10.16 and a beta of 1.66.

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

Insider Activity at Ambarella

In related news, CEO Feng-Ming Wang sold 2,173 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at $39,742,758.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ambarella news, CEO Feng-Ming Wang sold 2,173 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at approximately $39,742,758.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Leslie Kohn sold 1,198 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $59,025.46. Following the sale, the chief technology officer now owns 964,664 shares of the company’s stock, valued at $47,528,995.28. The disclosure for this sale can be found here. Insiders sold 6,648 shares of company stock worth $327,595 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Ambarella

A number of large investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its holdings in Ambarella by 29.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 484,906 shares of the semiconductor company’s stock worth $24,619,000 after acquiring an additional 109,719 shares during the period. KG&L Capital Management LLC grew its stake in shares of Ambarella by 7.3% in the 1st quarter. KG&L Capital Management LLC now owns 12,745 shares of the semiconductor company’s stock valued at $647,000 after buying an additional 866 shares during the period. Azzad Asset Management Inc. ADV grew its stake in shares of Ambarella by 24.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,752 shares of the semiconductor company’s stock valued at $495,000 after buying an additional 1,901 shares during the period. Tributary Capital Management LLC grew its stake in shares of Ambarella by 23.8% in the 1st quarter. Tributary Capital Management LLC now owns 279,647 shares of the semiconductor company’s stock valued at $14,198,000 after buying an additional 53,710 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Ambarella in the 1st quarter valued at about $491,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

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.