Ambarella (NASDAQ:AMBA) Rating Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Ambarella (NASDAQ:AMBA) from a hold rating to a sell rating in a research note released on Tuesday morning.

Other analysts also recently issued research reports about the stock. Craig Hallum lifted their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Morgan Stanley increased their target price on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Needham & Company LLC lifted their price target on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $82.92.

Ambarella Price Performance

NASDAQ:AMBA opened at $72.22 on Tuesday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -18.71 and a beta of 1.68. The firm’s fifty day moving average price is $61.57 and its 200 day moving average price is $56.52. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32.

Insiders Place Their Bets

In other news, VP Christopher Day sold 1,278 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $71.61, for a total transaction of $91,517.58. Following the completion of the transaction, the vice president now directly owns 17,188 shares of the company’s stock, valued at $1,230,832.68. This trade represents a 6.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the completion of the sale, the vice president now directly owns 158,686 shares in the company, valued at approximately $12,014,117.06. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,474 shares of company stock worth $1,246,694. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently bought and sold shares of AMBA. Meeder Asset Management Inc. acquired a new stake in shares of Ambarella during the second quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the last quarter. CWM LLC grew its holdings in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares in the last quarter. Signaturefd LLC raised its position in shares of Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 526 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 842 shares during the period. 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.