Ambarella (NASDAQ:AMBA) Price Target Raised to $85.00

Ambarella (NASDAQ:AMBA) had its price target raised by Craig Hallum from $80.00 to $85.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC reiterated a buy rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday. Wells Fargo & Company dropped their price target on Ambarella from $65.00 to $55.00 and set an equal weight rating for the company in a research note on Friday, May 31st. Rosenblatt Securities reaffirmed a buy rating and issued a $85.00 price objective on shares of Ambarella in a research note on Friday, August 23rd. Roth Mkm dropped their target price on shares of Ambarella from $65.00 to $60.00 and set a neutral rating for the company in a research report on Friday, May 31st. Finally, TD Cowen lifted their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a hold rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ambarella currently has a consensus rating of Hold and a consensus price target of $74.58.

Ambarella Stock Up 0.7 %

Shares of NASDAQ:AMBA opened at $59.70 on Wednesday. The company has a market cap of $2.45 billion, a P/E ratio of -14.01 and a beta of 1.59. The business has a fifty day simple moving average of $52.97 and a 200-day simple moving average of $51.65. Ambarella has a 52 week low of $39.69 and a 52 week high of $65.88.

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

Insider Activity at Ambarella

In related news, VP Christopher Day sold 1,408 shares of the business’s 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 completion of the sale, the vice president now directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Chi-Hong Ju sold 2,296 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $130,389.84. Following the completion of the sale, the vice president now owns 182,147 shares of the company’s stock, valued at approximately $10,344,128.13. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold 20,499 shares of company stock valued at $1,137,787 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Several hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ambarella by 2.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock worth $442,000 after buying an additional 195 shares during the period. California Public Employees Retirement System increased its holdings in shares of Ambarella by 2.4% in the 4th quarter. California Public Employees Retirement System now owns 64,751 shares of the semiconductor company’s stock worth $3,969,000 after acquiring an additional 1,531 shares during the period. Russell Investments Group Ltd. lifted its position in Ambarella by 13.5% in the 4th quarter. Russell Investments Group Ltd. now owns 17,146 shares of the semiconductor company’s stock valued at $1,051,000 after purchasing an additional 2,034 shares during the last quarter. Mach 1 Financial Group LLC acquired a new position in Ambarella during the 4th quarter valued at about $447,000. Finally, LGT Group Foundation grew its position in Ambarella by 18.6% in the 4th quarter. LGT Group Foundation now owns 48,957 shares of the semiconductor company’s stock worth $3,058,000 after purchasing an additional 7,681 shares during the last quarter. 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.