Ambarella (AMBA) Cut to “Strong Sell” at BidaskClub
Ambarella (NASDAQ:AMBA) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.
AMBA has been the topic of several other research reports. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a research report on Friday, December 1st. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price (up previously from $58.00) on shares of Ambarella in a research report on Friday, October 13th. UBS Group upgraded Ambarella from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Finally, KeyCorp restated a “hold” rating on shares of Ambarella in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $60.14.
Ambarella (NASDAQ:AMBA) opened at $52.60 on Friday. The stock has a market capitalization of $1,750.00, a P/E ratio of 50.58, a price-to-earnings-growth ratio of 5.20 and a beta of 1.59. Ambarella has a 1 year low of $40.06 and a 1 year high of $66.23.
In related news, Director Christopher B. Paisley sold 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.23, for a total value of $118,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yun-Lung Chen sold 11,340 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $59.80, for a total value of $678,132.00. Following the completion of the sale, the vice president now directly owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,553 shares of company stock valued at $2,145,108. Insiders own 5.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of Ambarella by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,240 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 337 shares during the last quarter. Turner Investments LLC acquired a new stake in shares of Ambarella in the third quarter valued at approximately $172,000. Amalgamated Bank increased its holdings in shares of Ambarella by 3.6% in the second quarter. Amalgamated Bank now owns 4,126 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 143 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Ambarella in the third quarter valued at approximately $213,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Ambarella in the third quarter valued at approximately $216,000. 63.02% of the stock is owned by hedge funds and other institutional investors.
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Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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