StockNews.com Upgrades Ambarella (NASDAQ:AMBA) to “Hold”

StockNews.com upgraded shares of Ambarella (NASDAQ:AMBA) from a sell rating to a hold rating in a research note published on Monday.

Several other brokerages have also issued reports on AMBA. Northland Securities reiterated an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Craig Hallum increased their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Needham & Company LLC increased their target price on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America increased their target price on shares of Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Ambarella Trading Down 1.9 %

Shares of NASDAQ:AMBA opened at $70.17 on Monday. Ambarella has a 1 year low of $39.69 and a 1 year high of $81.32. The business has a fifty day simple moving average of $59.60 and a 200 day simple moving average of $55.59. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -18.18 and a beta of 1.63.

Insider Buying and Selling

In other Ambarella news, Director Elizabeth M. Schwarting sold 913 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total transaction of $49,977.62. Following the completion of the transaction, the director now owns 8,155 shares in the company, valued at $446,404.70. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Day sold 2,904 shares of the 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 directly owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,460 shares of company stock valued at $1,013,172 over the last three months. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

Several institutional investors have recently bought and sold shares of AMBA. Point72 Asset Management L.P. boosted its stake in shares of Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after purchasing an additional 476,406 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Barclays PLC boosted its stake in Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after buying an additional 250,778 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Ambarella by 230.1% during the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after acquiring an additional 120,204 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.