Ambarella (NASDAQ:AMBA) Price Target Raised to $90.00

Ambarella (NASDAQ:AMBA) had its target price upped by Morgan Stanley from $73.00 to $90.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Craig Hallum boosted their price objective on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Roth Mkm reissued a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Susquehanna increased their price target on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday. TD Cowen lifted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Bank of America boosted their target price on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ambarella currently has a consensus rating of “Hold” and an average target price of $81.67.

Ambarella Stock Performance

Ambarella stock opened at $71.55 on Wednesday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $81.32. The firm’s 50-day simple moving average is $59.27 and its 200 day simple moving average is $55.31. The stock has a market cap of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last posted its 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. The firm had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative net margin of 62.38% and a negative return on equity of 23.52%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.76) EPS. As a group, analysts predict that Ambarella will post -3 EPS for the current fiscal year.

Insider Buying and Selling at Ambarella

In other news, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now directly owns 62,026 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.

Institutional Investors Weigh In On Ambarella

A number of institutional investors and hedge funds have recently modified their holdings of AMBA. Vanguard Group Inc. increased its holdings in Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after acquiring an additional 248,297 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Ambarella by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the semiconductor company’s stock worth $1,045,000 after purchasing an additional 1,502 shares during the period. Virtu Financial LLC raised its position in shares of Ambarella by 134.2% in the first quarter. Virtu Financial LLC now owns 13,837 shares of the semiconductor company’s stock worth $702,000 after buying an additional 7,928 shares in the last quarter. CWM LLC boosted its stake in Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its position in Ambarella by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after buying an additional 288 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other 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.