Susquehanna Cuts Ambarella (NASDAQ:AMBA) Price Target to $70.00

Ambarella (NASDAQ:AMBA) had its target price cut by Susquehanna from $80.00 to $70.00 in a research report released on Monday morning, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Monday, August 26th. Craig Hallum boosted their price objective on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Ambarella has an average rating of “Hold” and an average price target of $74.09.

Ambarella Stock Performance

Shares of Ambarella stock opened at $57.88 on Monday. The stock has a market cap of $2.37 billion, a P/E ratio of -13.59 and a beta of 1.62. The stock’s fifty day moving average is $54.81 and its 200 day moving average is $52.37. Ambarella has a one year low of $39.69 and a one year high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.76) earnings per share. Analysts predict that Ambarella will post -3 EPS for the current year.

Insiders Place Their Bets

In related news, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the sale, the vice president now owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the company’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 transaction of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the transaction, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock valued at $1,356,402 in the last quarter. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Ambarella in the second quarter worth $26,000. Blue Trust Inc. increased its stake in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 321 shares during the period. CWM LLC increased its holdings in Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares during the period. Signaturefd LLC raised its position in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Ambarella by 62.1% during the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 552 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

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.