Ambarella (NASDAQ:AMBA) Given New $90.00 Price Target at Craig Hallum

Ambarella (NASDAQ:AMBA) had its price objective lifted by Craig Hallum from $85.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on AMBA. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. Westpark Capital reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Roth Mkm restated a “neutral” rating and set a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Morgan Stanley increased their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Finally, Bank of America boosted their target price on Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.67.

Ambarella Stock Performance

NASDAQ AMBA opened at $72.44 on Wednesday. The firm’s 50 day moving average price is $58.23 and its two-hundred day moving average price is $54.89. Ambarella has a twelve month low of $39.69 and a twelve month high of $81.32. The stock 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 issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. Ambarella’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) earnings per share. On average, research analysts forecast that Ambarella will post -3 EPS for the current fiscal year.

Insider Activity

In other news, VP Christopher Day sold 2,904 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This trade represents a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total value of $49,977.62. Following the transaction, the director now directly owns 8,155 shares of the company’s stock, valued at $446,404.70. This represents a 10.07 % 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 valued at $1,356,402 over the last 90 days. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

Several hedge funds and other institutional investors have recently modified their holdings of AMBA. Dynamic Technology Lab Private Ltd boosted its holdings in Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 22,144 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Ambarella during the third quarter valued at about $1,530,000. SWS Partners grew its position in Ambarella by 25.3% during the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after buying an additional 16,049 shares in the last quarter. Millennium Management LLC increased its position in shares of Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Ambarella by 18.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock valued at $12,776,000 after purchasing an additional 35,977 shares in the last quarter. Institutional investors and hedge funds 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.