Craig Hallum Boosts Ambarella (NASDAQ:AMBA) Price Target to $85.00

Ambarella (NASDAQ:AMBA) had its target price hoisted by equities research analysts at Craig Hallum from $80.00 to $85.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective points to a potential upside of 43.39% from the stock’s previous close.

AMBA has been the subject of a number of other reports. Roth Mkm lowered their target price on Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Morgan Stanley raised their price objective on shares of Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Westpark Capital restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.85.

Ambarella Stock Performance

NASDAQ:AMBA opened at $59.28 on Wednesday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $65.88. The company has a 50 day moving average price of $52.88 and a 200 day moving average price of $51.62. The stock has a market capitalization of $2.43 billion, a P/E ratio of -13.92 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Ambarella will post -3.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ambarella news, VP Christopher Day sold 1,408 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ambarella news, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chi-Hong Ju sold 1,895 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $57.50, for a total value of $108,962.50. Following the transaction, the vice president now directly owns 180,252 shares in the company, valued at approximately $10,364,490. The disclosure for this sale can be found here. Insiders sold a total of 20,499 shares of company stock worth $1,137,787 over the last 90 days. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMBA. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ambarella by 2.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock valued at $442,000 after acquiring an additional 195 shares during the period. California Public Employees Retirement System raised its position in Ambarella by 2.4% in the 4th quarter. California Public Employees Retirement System now owns 64,751 shares of the semiconductor company’s stock valued at $3,969,000 after purchasing an additional 1,531 shares during the last quarter. Russell Investments Group Ltd. raised its position in Ambarella by 13.5% in the 4th quarter. Russell Investments Group Ltd. now owns 17,146 shares of the semiconductor company’s stock valued at $1,051,000 after purchasing an additional 2,034 shares during the last quarter. Mach 1 Financial Group LLC acquired a new stake in Ambarella during the 4th quarter worth $447,000. Finally, LGT Group Foundation grew its position in Ambarella by 18.6% during the 4th quarter. LGT Group Foundation now owns 48,957 shares of the semiconductor company’s stock worth $3,058,000 after purchasing an additional 7,681 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.