Ambarella (NASDAQ:AMBA) Price Target Raised to $65.00 at Bank of America

Ambarella (NASDAQ:AMBA) had its price objective upped by Bank of America from $57.00 to $65.00 in a research report released on Wednesday morning,Benzinga reports. Bank of America currently has an underperform rating on the semiconductor company’s stock.

A number of other research firms have also issued reports on AMBA. Morgan Stanley boosted their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Susquehanna boosted their target price on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday. Craig Hallum raised their target price on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Northland Securities reiterated an “outperform” rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a report on Wednesday. Finally, 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. Two equities 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’s stock. Based on data from MarketBeat, Ambarella currently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Stock Down 1.2 %

Shares of Ambarella stock opened at $71.55 on Wednesday. Ambarella has a 12-month low of $39.69 and a 12-month high of $81.32. The firm has a market capitalization of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63. The stock’s fifty day moving average is $59.27 and its 200-day moving average is $55.31.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data 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. Ambarella had a negative return on equity of 23.52% and a negative net margin of 62.38%. The firm had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the previous year, the company earned ($0.76) EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Ambarella will post -3 EPS for the current year.

Insider Transactions at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 4,382 shares of the company’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 completion of the sale, the chief executive officer now owns 803,574 shares of the company’s stock, valued at $45,016,215.48. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction that occurred 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 completion of the transaction, 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. Insiders have sold a total of 24,423 shares of company stock worth $1,356,402 in the last 90 days. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Ambarella in the second quarter valued at about $26,000. Blue Trust Inc. boosted its stake in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 321 shares during the period. CWM LLC boosted its stake 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 purchasing an additional 304 shares during the period. Signaturefd LLC grew its holdings in Ambarella by 389.6% in the 3rd 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 last quarter. Finally, Larson Financial Group LLC increased its position in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the period. Institutional investors 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.