Ambarella (NASDAQ:AMBA) Price Target Raised to $85.00

Ambarella (NASDAQ:AMBA) had its target price upped by Susquehanna from $70.00 to $85.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

AMBA has been the topic of a number of other research reports. Needham & Company LLC boosted their price objective on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. TD Cowen raised their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Finally, Morgan Stanley increased their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $81.67.

Ambarella Stock Down 1.2 %

Shares of AMBA opened at $71.55 on Wednesday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The stock has a market cap of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63. The firm’s fifty day moving average is $59.27 and its two-hundred day moving average is $55.31.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share 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 business had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the previous year, the firm posted ($0.76) EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that Ambarella will post -3 earnings per share for the current year.

Insider Activity at Ambarella

In other news, CEO Feng-Ming Wang sold 4,382 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64. Following the sale, the chief executive officer now owns 803,574 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction 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 $1,071,028. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,423 shares of company stock worth $1,356,402. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in Ambarella during the 2nd quarter worth $26,000. Blue Trust Inc. grew its position in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after buying an additional 321 shares in the last quarter. CWM LLC increased its stake in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares during the period. Signaturefd LLC raised its holdings in Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 526 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in 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 acquiring an additional 842 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.