TD Cowen Raises Ambarella (NASDAQ:AMBA) Price Target to $75.00

Ambarella (NASDAQ:AMBA) had its target price hoisted by TD Cowen from $65.00 to $75.00 in a report issued on Wednesday morning, MarketBeat.com reports. TD Cowen currently has a hold rating on the semiconductor company’s stock.

A number of other equities research analysts also recently issued reports on the company. Westpark Capital reiterated a buy rating and issued a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Rosenblatt Securities reiterated a buy rating and set a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Roth Mkm cut their price objective on Ambarella from $65.00 to $60.00 and set a neutral rating for the company in a report on Friday, May 31st. Wells Fargo & Company lowered their target price on shares of Ambarella from $65.00 to $55.00 and set an equal weight rating on the stock in a research note on Friday, May 31st. Finally, Morgan Stanley boosted their price target on shares of Ambarella from $57.00 to $67.00 and gave the stock an overweight rating in a research note on Friday, May 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $74.58.

Ambarella Stock Performance

NASDAQ:AMBA opened at $59.70 on Wednesday. The business’s fifty day moving average is $52.97 and its 200 day moving average is $51.65. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -14.01 and a beta of 1.59. Ambarella has a 52-week low of $39.69 and a 52-week high of $65.88.

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

Insiders Place Their Bets

In other news, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Christopher Day sold 1,408 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the completion of the sale, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Chi-Hong Ju sold 1,895 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.50, for a total transaction of $108,962.50. Following the completion of the transaction, the vice president now owns 180,252 shares in the company, valued at approximately $10,364,490. The disclosure for this sale can be found here. Insiders sold 20,499 shares of company stock valued at $1,137,787 over the last three months. Insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

A number of institutional investors have recently modified their holdings of AMBA. Meeder Asset Management Inc. purchased a new position in Ambarella during the 2nd quarter valued at about $26,000. CWM LLC grew its position in shares of Ambarella by 127.7% in 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. Van ECK Associates Corp increased its stake in shares of Ambarella by 62.1% during the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 552 shares during the period. Larson Financial Group LLC raised its holdings in shares of Ambarella by 13,576.9% during the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Ambarella by 22.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 590 shares during the period. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

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.