Ambarella (NASDAQ:AMBA) Upgraded by Bank of America to Neutral Rating

Bank of America upgraded shares of Ambarella (NASDAQ:AMBA) from an underperform rating to a neutral rating in a report published on Monday, Marketbeat reports. They currently have $80.00 target price on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on AMBA. Northland Securities reiterated an “outperform” rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Roth Mkm reissued a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Morgan Stanley raised their price objective on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Needham & Company LLC lifted their target price on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, StockNews.com cut Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Ambarella Stock Up 5.1 %

Shares of AMBA opened at $76.22 on Monday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The company has a market capitalization of $3.18 billion, a PE ratio of -19.75 and a beta of 1.68. The stock has a fifty day simple moving average of $62.53 and a two-hundred day simple moving average of $57.01.

Insider Activity

In other Ambarella news, Director Hsiao-Wuen Hon sold 377 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.15, for a total transaction of $27,954.55. Following the transaction, the director now directly owns 28,278 shares in the company, valued at approximately $2,096,813.70. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizabeth M. Schwarting sold 913 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total transaction of $49,977.62. Following the completion of the transaction, the director now directly owns 8,155 shares of the company’s stock, valued at approximately $446,404.70. This trade represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,590 shares of company stock valued at $725,366 over the last quarter. 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 modified their holdings of AMBA. CWM LLC boosted its position in 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. SG Americas Securities LLC acquired a new stake in Ambarella in the 2nd quarter valued at about $841,000. Hennion & Walsh Asset Management Inc. increased its holdings in Ambarella by 13.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 11,619 shares of the semiconductor company’s stock valued at $627,000 after acquiring an additional 1,347 shares in the last quarter. Tributary Capital Management LLC raised its position in Ambarella by 2.2% during the second quarter. Tributary Capital Management LLC now owns 285,667 shares of the semiconductor company’s stock worth $15,412,000 after acquiring an additional 6,020 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Ambarella by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 205,233 shares of the semiconductor company’s stock worth $11,072,000 after acquiring an additional 22,276 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.