Ambarella (NASDAQ:AMBA) Price Target Raised to $65.00

Ambarella (NASDAQ:AMBA) had its target price upped by Bank of America from $57.00 to $65.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an underperform rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on AMBA. Northland Securities reiterated an “outperform” rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Craig Hallum raised their price target on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Susquehanna lifted their price target on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Needham & Company LLC increased their price objective on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Ambarella presently has a consensus rating of “Hold” and an average target price of $81.67.

Ambarella Stock Performance

AMBA opened at $71.55 on Wednesday. The company has a market capitalization of $2.95 billion, a P/E ratio of -18.54 and a beta of 1.63. The company has a 50-day moving average of $59.27 and a 200-day moving average of $55.31. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 23.52% and a negative net margin of 62.38%. The firm had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. During the same period in the previous year, the company earned ($0.76) earnings per share. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In related news, CFO John Alexander Young sold 2,139 shares of the firm’s 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 $114,522.06. Following the transaction, the chief financial officer now owns 103,529 shares in the company, valued at $5,542,942.66. This trade represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock worth $1,356,402 in the last three months. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently modified their holdings of AMBA. Meeder Asset Management Inc. bought a new position in Ambarella during the second quarter valued at about $26,000. Blue Trust Inc. raised its position in Ambarella by 180.3% in the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares in the last quarter. CWM LLC lifted its holdings in Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. Signaturefd LLC boosted its position in shares of Ambarella by 389.6% during the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.