Ambarella (NASDAQ:AMBA) Price Target Raised to $110.00

Ambarella (NASDAQ:AMBA) had its target price raised by Needham & Company LLC from $100.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also weighed in on the company. StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price objective on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Craig Hallum boosted their price objective on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Northland Securities reissued an “outperform” rating and issued a $95.00 price objective (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, Stifel Nicolaus boosted their price objective on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Ambarella Price Performance

Shares of AMBA opened at $61.43 on Thursday. The stock’s 50-day moving average is $76.07 and its two-hundred day moving average is $65.05. The stock has a market cap of $2.56 billion, a PE ratio of -15.91 and a beta of 1.66. Ambarella has a 12 month low of $39.69 and a 12 month high of $85.15.

Insiders Place Their Bets

In other Ambarella news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now owns 158,686 shares of the company’s stock, valued at approximately $12,014,117.06. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total value of $75,900.00. Following the completion of the transaction, the chief operating officer now directly owns 110,918 shares in the company, valued at $8,418,676.20. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock worth $1,945,436 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Ambarella by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock valued at $341,596,000 after purchasing an additional 81,557 shares during the period. State Street Corp raised its stake in Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after purchasing an additional 47,856 shares during the period. The Manufacturers Life Insurance Company raised its stake in Ambarella by 7.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock valued at $105,628,000 after purchasing an additional 98,841 shares during the period. Millennium Management LLC raised its stake in Ambarella by 11.5% during the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after purchasing an additional 144,268 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares during the period. Institutional investors 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.