Ambarella, Inc. (NASDAQ:AMBA – Get Free Report) gapped up before the market opened on Wednesday after Stifel Nicolaus raised their price target on the stock from $80.00 to $95.00. The stock had previously closed at $68.41, but opened at $79.78. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $71.81, with a volume of 4,398,766 shares.
AMBA has been the subject of a number of other research reports. Bank of America upped their price objective on shares of Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a research report on Wednesday. TD Cowen increased their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Susquehanna boosted their price objective on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Finally, Northland Securities restated an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $81.67.
Read Our Latest Analysis on Ambarella
Insider Activity at Ambarella
Institutional Investors Weigh In On Ambarella
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd increased its position in shares of Ambarella by 592.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after purchasing an additional 22,144 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in Ambarella during the third quarter worth about $1,530,000. SWS Partners increased its position in shares of Ambarella by 25.3% during the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after acquiring an additional 16,049 shares during the last quarter. Millennium Management LLC raised its stake in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ambarella by 18.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after acquiring an additional 35,977 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.
Ambarella Stock Performance
The stock’s 50-day moving average is $58.23 and its two-hundred day moving average is $54.89. The stock has a market cap of $2.99 billion, a PE ratio of -15.84 and a beta of 1.63.
Ambarella (NASDAQ:AMBA – Get Free Report) last released 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 return on equity of 26.01% and a negative net margin of 79.46%. The business had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the business posted ($0.76) earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts forecast that Ambarella, Inc. will post -3 EPS for the current year.
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.
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