Ambarella (NASDAQ:AMBA) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Ambarella (NASDAQ:AMBA) had its price target raised by investment analysts at Stifel Nicolaus from $80.00 to $95.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 31.14% from the stock’s current price.

Several other equities research analysts also recently issued reports on AMBA. Craig Hallum increased their target price on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Susquehanna increased their price target on shares of Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Wednesday. Northland Securities restated an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a report on Wednesday. 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 report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Stock Performance

Ambarella stock opened at $72.44 on Wednesday. The company’s 50 day simple moving average is $58.93 and its 200-day simple moving average is $55.13. Ambarella has a 1 year low of $39.69 and a 1 year high of $81.32. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter in the previous year, the company earned ($0.76) earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Ambarella will post -3 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Christopher Day sold 2,904 shares of the firm’s 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 transaction, the vice president now directly owns 18,466 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, CFO John Alexander Young sold 2,139 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares of the company’s stock, valued at approximately $5,542,942.66. This trade represents a 2.02 % 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 quarter. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Several institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in shares of Ambarella in the 2nd quarter valued at approximately $26,000. Blue Trust Inc. increased its stake in Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 321 shares during the period. CWM LLC raised its position in Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 842 shares in 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.