Ambarella (NASDAQ:AMBA) Price Target Cut to $70.00 by Analysts at Susquehanna

Ambarella (NASDAQ:AMBA) had its price target decreased by Susquehanna from $80.00 to $70.00 in a research note published on Monday, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

AMBA has been the subject of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Friday, August 23rd. TD Cowen lifted their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley lifted their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ambarella presently has an average rating of “Hold” and an average price target of $74.09.

Ambarella Price Performance

Shares of NASDAQ AMBA opened at $57.26 on Monday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -13.44 and a beta of 1.62. The business has a 50-day moving average of $54.33 and a 200-day moving average of $52.27. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $65.88.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share 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 26.01% and a negative net margin of 79.46%. Ambarella’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.76) EPS. On average, sell-side analysts expect that Ambarella will post -3 EPS for the current year.

Insiders Place Their Bets

In other news, VP Christopher Day sold 483 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $25,859.82. Following the completion of the sale, the vice president now directly owns 21,370 shares in the company, valued at approximately $1,144,149.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Christopher Day sold 483 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $25,859.82. Following the completion of the sale, the vice president now directly owns 21,370 shares in the company, valued at approximately $1,144,149.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the transaction, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,423 shares of company stock worth $1,356,402 over the last three months. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Several institutional investors have recently made changes to their positions in the stock. Azzad Asset Management Inc. ADV raised its holdings in shares of Ambarella by 2.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after purchasing an additional 231 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ambarella by 6.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock worth $269,000 after acquiring an additional 285 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 288 shares during the last quarter. CWM LLC raised its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares during the last quarter. Institutional investors and hedge funds 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.