Ambarella (NASDAQ:AMBA) Sets New 52-Week Low Following Analyst Downgrade

Ambarella, Inc. (NASDAQ:AMBA)’s share price reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $62.00 to $50.00. Bank of America currently has an underperform rating on the stock. Ambarella traded as low as $43.23 and last traded at $43.66, with a volume of 494610 shares changing hands. The stock had previously closed at $44.49.

Other equities research analysts also recently issued research reports about the company. Susquehanna increased their target price on Ambarella from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Wells Fargo & Company downgraded Ambarella from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $85.00 to $65.00 in a research report on Wednesday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, February 28th. StockNews.com upgraded Ambarella to a “sell” rating in a research report on Saturday, April 13th. Finally, Morgan Stanley increased their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Ambarella currently has a consensus rating of “Hold” and an average price target of $71.08.

Insider Activity at Ambarella

In other news, COO Chan W. Lee sold 1,075 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the transaction, the chief operating officer now directly owns 124,146 shares of the company’s stock, valued at $6,116,673.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Chan W. Lee sold 1,075 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the transaction, the chief operating officer now directly owns 124,146 shares of the company’s stock, valued at $6,116,673.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Leslie Kohn sold 1,198 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $59,025.46. Following the transaction, the chief technology officer now directly owns 964,664 shares in the company, valued at $47,528,995.28. The disclosure for this sale can be found here. Insiders have sold a total of 6,648 shares of company stock valued at $327,595 over the last 90 days. 5.90% of the stock is owned by insiders.

Institutional Trading of Ambarella

Several large investors have recently modified their holdings of AMBA. US Bancorp DE grew its stake in shares of Ambarella by 30.3% in the first quarter. US Bancorp DE now owns 2,605 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 605 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ambarella by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 181 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in shares of Ambarella by 33.9% in the first quarter. AlphaCrest Capital Management LLC now owns 3,054 shares of the semiconductor company’s stock worth $320,000 after purchasing an additional 774 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Ambarella by 3.9% in the first quarter. Rhumbline Advisers now owns 37,241 shares of the semiconductor company’s stock worth $3,907,000 after purchasing an additional 1,395 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after purchasing an additional 522,698 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

Ambarella Price Performance

The company has a market capitalization of $1.74 billion, a P/E ratio of -10.14 and a beta of 1.66. The company has a 50 day moving average of $52.14 and a 200-day moving average of $54.02.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share (EPS) 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 company had revenue of $51.62 million for the quarter, compared to analysts’ expectations of $51.68 million. Research analysts predict that Ambarella, Inc. will post -3.53 EPS for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions 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.