Ambarella (NASDAQ:AMBA) Sets New 1-Year High – What’s Next?

Ambarella, Inc. (NASDAQ:AMBA) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $81.75 and last traded at $83.32, with a volume of 3566 shares changing hands. The stock had previously closed at $80.79.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMBA. Morgan Stanley boosted their target price on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Stifel Nicolaus boosted their price objective on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Northland Securities restated an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a report on Friday, December 6th. Finally, StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Ambarella has an average rating of “Moderate Buy” and an average target price of $85.42.

Ambarella Stock Down 1.3 %

The stock has a fifty day moving average of $71.42 and a two-hundred day moving average of $60.68. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -21.13 and a beta of 1.66.

Insider Activity

In other news, VP Chi-Hong Ju sold 5,118 shares of the stock in a transaction 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 owns 158,686 shares of the company’s stock, valued at $12,014,117.06. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hsiao-Wuen Hon sold 377 shares of Ambarella stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.15, for a total transaction of $27,954.55. Following the transaction, the director now owns 28,278 shares in the company, valued at $2,096,813.70. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,861 shares of company stock valued at $1,945,436 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several institutional investors and hedge funds have recently modified their holdings of AMBA. Envestnet Asset Management Inc. lifted its position in Ambarella by 3.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 54,743 shares of the semiconductor company’s stock worth $2,953,000 after acquiring an additional 2,024 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ambarella by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock worth $36,854,000 after purchasing an additional 2,994 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Ambarella by 31.2% in the second quarter. Hsbc Holdings PLC now owns 27,830 shares of the semiconductor company’s stock valued at $1,483,000 after purchasing an additional 6,621 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Ambarella during the 2nd quarter valued at $3,809,000. Finally, Sei Investments Co. increased its stake in Ambarella by 330.7% during the 2nd quarter. Sei Investments Co. now owns 48,463 shares of the semiconductor company’s stock worth $2,615,000 after buying an additional 37,211 shares during the period. Hedge funds and other institutional investors 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.