Ambarella (NASDAQ:AMBA) Sets New 1-Year Low Following Analyst Downgrade

Posted by Defense World Staff on Oct 20th, 2023

Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) reached a new 52-week low during trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $78.00 to $70.00. Stifel Nicolaus currently has a buy rating on the stock. Ambarella traded as low as $50.19 and last traded at $50.25, with a volume of 131509 shares traded. The stock had previously closed at $51.55.

Several other research analysts also recently weighed in on the company. Craig Hallum dropped their price target on Ambarella from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, August 30th. Needham & Company LLC reduced their target price on Ambarella from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 30th. Deutsche Bank Aktiengesellschaft cut their price target on Ambarella from $75.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Roth Mkm dropped their price objective on Ambarella from $75.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 30th. Finally, Rosenblatt Securities lowered their price target on Ambarella from $95.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

Read Our Latest Stock Report on AMBA

Insider Transactions at Ambarella

In related news, CFO Brian C. White sold 3,274 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $57.30, for a total value of $187,600.20. Following the sale, the chief financial officer now owns 77,497 shares in the company, valued at approximately $4,440,578.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ambarella news, CFO Brian C. White sold 3,274 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $57.30, for a total transaction of $187,600.20. Following the sale, the chief financial officer now owns 77,497 shares in the company, valued at approximately $4,440,578.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Leslie Kohn sold 1,671 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $57.30, for a total value of $95,748.30. Following the sale, the chief technology officer now owns 942,175 shares in the company, valued at approximately $53,986,627.50. The disclosure for this sale can be found here. Insiders have sold 10,576 shares of company stock valued at $606,992 over the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Trading of Ambarella

A number of large investors have recently made changes to their positions in the company. Prudential Financial Inc. lifted its position in Ambarella by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 3,406 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 159 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Ambarella by 5.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,473 shares of the semiconductor company’s stock worth $269,000 after buying an additional 175 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Ambarella by 5.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock worth $390,000 after buying an additional 181 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Ambarella by 24.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 939 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 184 shares in the last quarter. Finally, Register Financial Advisors LLC increased its stake in Ambarella by 6.1% in the 3rd quarter. Register Financial Advisors LLC now owns 3,500 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 200 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Ambarella Trading Down 2.6 %

The stock has a market capitalization of $2.00 billion, a PE ratio of -20.08 and a beta of 1.57. The firm has a 50 day moving average of $59.66 and a two-hundred day moving average of $70.02.

Ambarella (NASDAQ:AMBA – Get Free Report) last released its quarterly earnings data on Tuesday, August 29th. The semiconductor company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.06. Ambarella had a negative return on equity of 14.39% and a negative net margin of 33.72%. The firm had revenue of $62.10 million during the quarter, compared to the consensus estimate of $62.02 million. During the same period last year, the business posted ($0.51) EPS. Ambarella’s quarterly revenue was down 23.2% on a year-over-year basis. Equities research analysts forecast that Ambarella, Inc. will post -3.59 EPS for the current year.

Ambarella Company Profile

(Get Free Report)

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.