Ambarella (NASDAQ:AMBA) Price Target Raised to $100.00

Ambarella (NASDAQ:AMBA) had its price objective raised by Needham & Company LLC from $90.00 to $100.00 in a research note published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. 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 note on Wednesday, August 28th. Craig Hallum lifted their price target on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Susquehanna decreased their target price on Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research note on Monday, October 21st. TD Cowen lifted their target price on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Northland Securities reissued an “outperform” rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambarella presently has an average rating of “Hold” and an average target price of $81.67.

Ambarella Price Performance

Shares of Ambarella stock opened at $71.55 on Wednesday. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32. The business’s fifty day moving average price is $59.27 and its two-hundred day moving average price is $55.31. The company has a market capitalization of $2.95 billion, a P/E ratio of -18.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 62.38% and a negative return on equity of 23.52%. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the prior year, the company posted ($0.76) earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. This represents a 8.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chan W. Lee sold 1,490 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $79,774.60. Following the transaction, the chief operating officer now owns 121,406 shares in the company, valued at approximately $6,500,077.24. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Point72 Asset Management L.P. lifted its holdings in shares of Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after buying an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ambarella by 36.2% in 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 acquiring an additional 343,385 shares during the last quarter. Barclays PLC grew its position in Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after acquiring an additional 286,296 shares in the last quarter. Marshall Wace LLP grew its position in Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after acquiring an additional 250,778 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares in the last quarter. Hedge funds and other 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.