Ambarella (NASDAQ:AMBA) Price Target Cut to $55.00 by Analysts at Wells Fargo & Company

Ambarella (NASDAQ:AMBA) had its price target decreased by Wells Fargo & Company from $65.00 to $55.00 in a report published on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

AMBA has been the topic of a number of other reports. Morgan Stanley lifted their target price on Ambarella from $57.00 to $67.00 and gave the stock an overweight rating in a research report on Friday. Susquehanna lifted their target price on Ambarella from $70.00 to $80.00 and gave the stock a positive rating in a research report on Wednesday, February 28th. Bank of America decreased their target price on Ambarella from $62.00 to $50.00 and set an underperform rating on the stock in a research report on Tuesday, April 16th. Rosenblatt Securities reissued a buy rating and set a $85.00 target price on shares of Ambarella in a research report on Wednesday, May 29th. Finally, Needham & Company LLC reissued a buy rating and set a $90.00 target price on shares of Ambarella in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ambarella currently has an average rating of Hold and an average price target of $69.75.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $55.41 on Friday. The company has a market cap of $2.27 billion, a P/E ratio of -13.01 and a beta of 1.63. The stock’s 50-day moving average is $47.56 and its 200-day moving average is $53.26. Ambarella has a 52-week low of $40.31 and a 52-week high of $89.18.

Insiders Place Their Bets

In other news, CEO Feng-Ming Wang sold 2,173 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $107,063.71. Following the completion of the transaction, the chief executive officer now owns 806,632 shares of the company’s stock, valued at approximately $39,742,758.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Chan W. Lee sold 1,075 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $52,965.25. Following the sale, the chief operating officer now directly owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Feng-Ming Wang sold 2,173 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares in the company, valued at $39,742,758.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,648 shares of company stock valued at $327,595. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMBA. Acadian Asset Management LLC bought a new stake in shares of Ambarella in the 3rd quarter valued at about $66,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Ambarella in the 4th quarter valued at about $78,000. Daiwa Securities Group Inc. raised its holdings in shares of Ambarella by 36.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 381 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in Ambarella by 52.3% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,656 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 569 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 1,765 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

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.