Ambarella (NASDAQ:AMBA) Price Target Raised to $95.00

Ambarella (NASDAQ:AMBA) had its price objective upped by Stifel Nicolaus from $80.00 to $95.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also commented on AMBA. Susquehanna lifted their price objective on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday. TD Cowen raised their target price on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Finally, Morgan Stanley boosted their target price on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Stock Down 1.2 %

Shares of AMBA stock opened at $71.55 on Wednesday. The company has a 50 day moving average price of $59.27 and a 200-day moving average price of $55.31. Ambarella has a 52 week low of $39.69 and a 52 week high of $81.32. The firm has a market capitalization 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 analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative net margin of 62.38% and a negative return on equity of 23.52%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) EPS. Analysts anticipate that Ambarella will post -3 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction dated 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 sale, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the vice president now directly owns 18,466 shares in the company, valued at approximately $1,071,028. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,423 shares of company stock worth $1,356,402 over the last three months. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently added to or reduced their stakes in AMBA. Vanguard Group Inc. lifted its holdings in shares of Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ambarella by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the semiconductor company’s stock valued at $1,045,000 after acquiring an additional 1,502 shares during the last quarter. Virtu Financial LLC lifted its stake in Ambarella by 134.2% in the 1st quarter. Virtu Financial LLC now owns 13,837 shares of the semiconductor company’s stock worth $702,000 after purchasing an additional 7,928 shares in the last quarter. CWM LLC boosted its holdings in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Ambarella by 1.7% during 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 during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

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.