Needham & Company LLC Downgrades Ambarella (NASDAQ:AMBA) to Underperform

Needham & Company LLC lowered shares of Ambarella (NASDAQ:AMBA) from a hold rating to an underperform rating in a report published on Wednesday, June 5th, FinViz reports.

Other research analysts have also issued reports about the company. BidaskClub raised Ambarella from a buy rating to a strong-buy rating in a research report on Thursday, April 11th. Craig Hallum raised Ambarella from a hold rating to a buy rating and set a $53.00 target price on the stock in a research report on Wednesday, March 6th. ValuEngine raised Ambarella from a hold rating to a buy rating in a research report on Saturday, March 30th. Northland Securities reiterated a buy rating on shares of Ambarella in a research note on Wednesday, March 6th. Finally, TheStreet upgraded Ambarella from a d rating to a c- rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Ambarella presently has an average rating of Hold and an average price target of $45.00.

Shares of AMBA traded down $0.18 during trading hours on Wednesday, hitting $44.13. The company had a trading volume of 500,946 shares, compared to its average volume of 721,674. The business’s fifty day moving average price is $42.16. Ambarella has a one year low of $30.00 and a one year high of $52.12. The company has a market cap of $1.44 billion, a P/E ratio of -39.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.84 and a quick ratio of 9.42.

In other Ambarella news, VP Christopher Day sold 2,490 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $43.98, for a total transaction of $109,510.20. Following the transaction, the vice president now owns 8,604 shares in the company, valued at $378,403.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $41.93, for a total value of $41,930.00. Following the transaction, the director now owns 21,621 shares in the company, valued at approximately $906,568.53. The disclosure for this sale can be found here. Insiders sold 15,201 shares of company stock worth $655,716 in the last 90 days. Company insiders own 6.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. First National Bank of Omaha boosted its position in Ambarella by 1.2% during the first quarter. First National Bank of Omaha now owns 24,595 shares of the semiconductor company’s stock worth $1,063,000 after purchasing an additional 288 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Ambarella by 10.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,762 shares of the semiconductor company’s stock valued at $292,000 after acquiring an additional 652 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Ambarella by 5.9% during the first quarter. First Trust Advisors LP now owns 16,783 shares of the semiconductor company’s stock valued at $725,000 after acquiring an additional 935 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of Ambarella by 5.6% during the fourth quarter. Granite Investment Partners LLC now owns 20,815 shares of the semiconductor company’s stock valued at $728,000 after acquiring an additional 1,097 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its holdings in shares of Ambarella by 14.8% during the first quarter. Krane Funds Advisors LLC now owns 9,834 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 1,267 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, 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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Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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