Ambarella (NASDAQ:AMBA) Shares Gap Up Following Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA)’s share price gapped up prior to trading 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 changing hands.

Other equities research analysts also recently issued research reports about the company. Northland Securities reissued an “outperform” rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research report on Wednesday. Westpark Capital restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Craig Hallum raised their price objective on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Finally, Bank of America upped their price objective on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.67.

Insider Activity at Ambarella

In other news, CEO Feng-Ming Wang sold 4,382 shares of Ambarella stock in a transaction 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 $45,016,215.48. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ambarella

Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in Ambarella in the 2nd quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the period. CWM LLC grew its holdings in Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Signaturefd LLC increased its position in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 526 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Up 5.9 %

The business’s 50-day moving average price is $58.93 and its 200 day moving average price is $55.13. The company has a market capitalization of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63.

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

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.