Ambarella (NASDAQ:AMBA) PT Raised to $80.00

Ambarella (NASDAQ:AMBA) had its price objective hoisted by investment analysts at Stifel Nicolaus from $75.00 to $80.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 34.95% from the company’s previous close.

AMBA has been the topic of a number of other reports. Bank of America raised their price target on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday. Westpark Capital reissued a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Monday. Finally, TD Cowen upped their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Ambarella has a consensus rating of “Hold” and a consensus price target of $73.85.

Ambarella Stock Performance

AMBA stock opened at $59.28 on Wednesday. The company’s 50 day moving average price is $52.88 and its 200 day moving average price is $51.62. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -13.92 and a beta of 1.59. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the previous year, the business posted ($0.76) EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Ambarella will post -3.35 EPS for the current fiscal year.

Insider Activity

In related news, VP Chi-Hong Ju sold 2,296 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $130,389.84. Following the completion of the sale, the vice president now owns 182,147 shares in the company, valued at $10,344,128.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ambarella news, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Chi-Hong Ju sold 2,296 shares of Ambarella stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $130,389.84. Following the sale, the vice president now owns 182,147 shares of the company’s stock, valued at $10,344,128.13. The disclosure for this sale can be found here. Insiders have sold a total of 20,499 shares of company stock valued at $1,137,787 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ambarella by 2.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock valued at $442,000 after purchasing an additional 195 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Ambarella by 2.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 231 shares during the period. Sheets Smith Wealth Management lifted its stake in shares of Ambarella by 4.4% during the fourth quarter. Sheets Smith Wealth Management now owns 6,588 shares of the semiconductor company’s stock valued at $404,000 after buying an additional 275 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Ambarella by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 288 shares during the last quarter. Finally, CWM LLC raised its holdings in Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. 82.09% of the stock is 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.