Ambarella (NASDAQ:AMBA) Price Target Cut to $70.00

Ambarella (NASDAQ:AMBA) had its price objective lowered by equities research analysts at Susquehanna from $80.00 to $70.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential upside of 22.08% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Bank of America increased their target price on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. TD Cowen increased their target price on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley increased their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.09.

Ambarella Price Performance

AMBA stock opened at $57.34 on Monday. The company has a market capitalization of $2.35 billion, a PE ratio of -13.46 and a beta of 1.62. Ambarella has a 12 month low of $39.69 and a 12 month high of $65.88. The firm’s 50-day moving average is $54.55 and its 200 day moving average is $52.33.

Ambarella (NASDAQ:AMBA) last posted its quarterly 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. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter last year, the firm posted ($0.76) EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Ambarella will post -3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ambarella news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ambarella news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Feng-Ming Wang sold 4,382 shares of the business’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 sale, the chief executive officer now directly owns 803,574 shares in the company, valued at approximately $45,016,215.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,423 shares of company stock valued at $1,356,402. Insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Several institutional investors and hedge funds have recently bought and sold shares of AMBA. Vanguard Group Inc. lifted its stake in Ambarella by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock valued at $250,831,000 after acquiring an additional 69,864 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Ambarella during the first quarter valued at $277,000. Hennion & Walsh Asset Management Inc. increased its holdings in Ambarella by 79.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,272 shares of the semiconductor company’s stock valued at $522,000 after buying an additional 4,555 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Ambarella during the 1st quarter valued at about $491,000. Finally, Tributary Capital Management LLC increased its stake in shares of Ambarella by 23.8% in the 1st quarter. Tributary Capital Management LLC now owns 279,647 shares of the semiconductor company’s stock valued at $14,198,000 after purchasing an additional 53,710 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.