Susquehanna Raises Ambarella (NASDAQ:AMBA) Price Target to $85.00

Ambarella (NASDAQ:AMBA) had its target price upped by equities researchers at Susquehanna from $70.00 to $85.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price points to a potential upside of 17.34% from the company’s current price.

Other analysts have also issued reports about the stock. Westpark Capital restated a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Monday, August 26th. TD Cowen increased their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Friday, August 23rd. Morgan Stanley upped their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC upped their target price on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $81.67.

Ambarella Stock Performance

Shares of AMBA opened at $72.44 on Wednesday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The stock’s 50-day simple moving average is $58.93 and its 200 day simple moving average is $55.13. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter last year, the business posted ($0.76) earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Activity

In other Ambarella news, COO Chan W. Lee sold 1,490 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the completion of the sale, the chief operating officer now owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock valued at $1,356,402 in the last 90 days. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV increased its position in shares of Ambarella by 2.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after purchasing an additional 231 shares during the last quarter. Versor Investments LP grew its stake in Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 256 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ambarella by 6.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after acquiring an additional 285 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after purchasing an additional 288 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

About Ambarella

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.