Weekly Research Analysts’ Ratings Changes for Ambarella (AMBA)

A number of firms have modified their ratings and price targets on shares of Ambarella (NASDAQ: AMBA) recently:

• 8/28/2024 – Ambarella had its price target raised by analysts at Bank of America Co. from $50.00 to $57.00. They now have an “underperform” rating on the stock.
• 8/28/2024 – Ambarella had its price target raised by analysts at Morgan Stanley from $67.00 to $73.00. They now have an “overweight” rating on the stock.
• 8/28/2024 – Ambarella had its “neutral” rating reaffirmed by analysts at Roth Mkm. They now have a $60.00 price target on the stock.
• 8/28/2024 – Ambarella had its price target raised by analysts at TD Cowen from $65.00 to $75.00. They now have a “hold” rating on the stock.
• 8/28/2024 – Ambarella had its price target raised by analysts at Stifel Nicolaus from $75.00 to $80.00. They now have a “buy” rating on the stock.
• 8/28/2024 – Ambarella had its price target raised by analysts at Craig Hallum from $80.00 to $85.00. They now have a “buy” rating on the stock.
• 8/28/2024 – Ambarella had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $90.00 price target on the stock.
• 8/26/2024 – Ambarella had its “buy” rating reaffirmed by analysts at Westpark Capital. They now have a $85.00 price target on the stock.
• 8/23/2024 – Ambarella had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $85.00 price target on the stock.

Ambarella Stock Performance

Shares of AMBA opened at $53.36 on Tuesday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -12.53 and a beta of 1.63. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88. The business’s fifty day moving average is $52.57 and its 200-day moving average is $51.51.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. Ambarella’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) EPS. As a group, research analysts forecast that Ambarella, Inc. will post -2.99 EPS for the current fiscal year.

Insider Activity

In related news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. The disclosure for this sale can be found here. Insiders have sold 26,653 shares of company stock valued at $1,487,144 in the last ninety days. 5.70% of the stock is owned by company insiders.

Institutional Trading of Ambarella

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kodai Capital Management LP bought a new position in shares of Ambarella in the fourth quarter valued at approximately $65,543,000. Point72 Asset Management L.P. grew its holdings in shares of Ambarella by 1,556.9% in the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after acquiring an additional 476,406 shares in the last quarter. Norges Bank bought a new position in shares of Ambarella in the fourth quarter valued at approximately $23,495,000. The Manufacturers Life Insurance Company grew its holdings in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after acquiring an additional 343,385 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after acquiring an additional 250,778 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

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.