Ambarella (NASDAQ:AMBA) Price Target Raised to $100.00 at Needham & Company LLC

Ambarella (NASDAQ:AMBA) had its price objective boosted by Needham & Company LLC from $90.00 to $100.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently issued reports on AMBA. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Craig Hallum upped their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. TD Cowen lifted their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm restated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Bank of America lifted their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Ambarella presently has a consensus rating of “Hold” and a consensus price target of $81.67.

Ambarella Trading Up 5.9 %

Ambarella stock opened at $72.44 on Wednesday. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32. The stock has a fifty day simple moving average of $58.23 and a two-hundred day simple moving average of $54.89. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $63.70 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) earnings per share. On average, equities research analysts forecast that Ambarella will post -3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction 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 sale, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,423 shares of company stock valued at $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Azzad Asset Management Inc. ADV boosted its stake in 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 last quarter. Versor Investments LP increased its stake in Ambarella by 5.9% in the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock worth $261,000 after acquiring an additional 256 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 285 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Ambarella by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after acquiring an additional 288 shares during the last quarter. Finally, CWM LLC boosted its position in shares of 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 acquiring an additional 304 shares during the last quarter. Hedge funds and other institutional investors 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.