Ambarella (NASDAQ:AMBA) PT Raised to $80.00

Ambarella (NASDAQ:AMBA) had its price target hoisted by equities researchers at Stifel Nicolaus from $75.00 to $80.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 33.44% from the company’s previous close.

A number of other equities analysts have also commented on AMBA. Morgan Stanley raised their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday. Bank of America raised their price objective on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Finally, Wells Fargo & Company cut their price objective on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.85.

Ambarella Price Performance

Shares of NASDAQ AMBA traded up $7.16 during trading on Wednesday, hitting $59.95. The stock had a trading volume of 1,278,661 shares, compared to its average volume of 596,883. The firm has a fifty day moving average of $52.75 and a two-hundred day moving average of $51.52. Ambarella has a 12 month low of $39.69 and a 12 month high of $76.36. The company has a market capitalization of $2.46 billion, a PE ratio of -14.07 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million for 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%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) earnings per share. On average, equities analysts expect that Ambarella will post -3.35 earnings per share for the current fiscal year.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 1,408 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Christopher Day sold 1,408 shares of the stock in a transaction 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 sale, the vice president now directly 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 Securities & Exchange Commission, which is available at this link. Also, VP Chi-Hong Ju sold 1,895 shares of Ambarella 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 sale, the vice president now directly owns 180,252 shares of the company’s stock, valued at approximately $10,364,490. The disclosure for this sale can be found here. Insiders sold a total of 20,499 shares of company stock valued at $1,137,787 in the last quarter. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ambarella

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after buying an additional 248,297 shares during the last quarter. Millennium Management LLC raised its holdings in Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares during the period. Kodai Capital Management LP purchased a new stake in Ambarella in the fourth quarter worth about $65,543,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ambarella by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after buying an additional 29,379 shares during the period. 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.