Ambarella (NASDAQ:AMBA) Shares Gap Up Following Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA) gapped up before the market opened on Wednesday after Stifel Nicolaus raised their price target on the stock from $80.00 to $95.00. The stock had previously closed at $68.41, but opened at $79.78. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $71.81, with a volume of 4,398,766 shares.

AMBA has been the subject of a number of other research reports. Bank of America upped their price objective on shares of Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a research report on Wednesday. TD Cowen increased their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Susquehanna boosted their price objective on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Finally, Northland Securities restated an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $81.67.

Insider Activity at Ambarella

In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher Day sold 483 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the sale, the vice president now directly owns 21,370 shares of the company’s stock, valued at approximately $1,144,149.80. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,423 shares of company stock valued at $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its position in shares of Ambarella by 592.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after purchasing an additional 22,144 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in Ambarella during the third quarter worth about $1,530,000. SWS Partners increased its position in shares of Ambarella by 25.3% during the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after acquiring an additional 16,049 shares during the last quarter. Millennium Management LLC raised its stake in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ambarella by 18.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after acquiring an additional 35,977 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Performance

The stock’s 50-day moving average is $58.23 and its two-hundred day moving average is $54.89. The stock has a market cap of $2.99 billion, a PE ratio of -15.84 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the business posted ($0.76) earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts forecast that Ambarella, Inc. will post -3 EPS for the current year.

Ambarella Company Profile

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.