Ambarella (NASDAQ:AMBA) Price Target Increased to $57.00 by Analysts at Bank of America

Ambarella (NASDAQ:AMBA) had its price objective hoisted by analysts at Bank of America from $50.00 to $57.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the semiconductor company’s stock. Bank of America‘s price target suggests a potential downside of 4.92% from the stock’s current price.

Several other brokerages have also commented on AMBA. Roth Mkm cut their price target on Ambarella from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Westpark Capital reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. TD Cowen increased their price objective on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ambarella has an average rating of “Hold” and a consensus price target of $73.85.

Ambarella Stock Up 13.6 %

AMBA stock traded up $7.16 during trading on Wednesday, hitting $59.95. The company had a trading volume of 1,278,661 shares, compared to its average volume of 596,883. The firm has a market capitalization of $2.46 billion, a P/E ratio of -14.07 and a beta of 1.59. Ambarella has a 52-week low of $39.69 and a 52-week high of $76.36. The company has a 50 day simple moving average of $52.75 and a 200-day simple moving average of $51.52.

Ambarella (NASDAQ:AMBA) last announced its quarterly 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. The firm had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) earnings per share. Sell-side analysts forecast that Ambarella will post -3.35 earnings per share for the current year.

Insider Transactions at Ambarella

In other Ambarella news, VP Chi-Hong Ju sold 8,900 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $55.53, for a total transaction of $494,217.00. Following the sale, the vice president now owns 179,193 shares in the company, valued at approximately $9,950,587.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ambarella 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 transaction of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chi-Hong Ju sold 8,900 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the sale, the vice president now owns 179,193 shares in the company, valued at approximately $9,950,587.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,499 shares of company stock worth $1,137,787. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMBA. Meeder Asset Management Inc. purchased a new position in shares of Ambarella during the 2nd quarter valued at approximately $26,000. CWM LLC increased its holdings in Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Ambarella by 62.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 552 shares during the period. Larson Financial Group LLC raised its holdings 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 worth $90,000 after purchasing an additional 1,765 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Ambarella by 22.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after buying an additional 590 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

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.