Susquehanna Issues Positive Forecast for Ambarella (NASDAQ:AMBA) Stock Price

Ambarella (NASDAQ:AMBA) had its price objective boosted by Susquehanna from $70.00 to $85.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the stock. Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Craig Hallum upped their target price on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. TD Cowen raised their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Bank of America upped 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Ambarella currently has a consensus rating of “Hold” and an average price target of $81.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $72.44 on Wednesday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The company has a market capitalization of $2.99 billion, a PE ratio of -16.77 and a beta of 1.63. The company has a fifty day moving average of $58.23 and a 200-day moving average of $54.89.

Ambarella (NASDAQ:AMBA) last posted its 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 firm had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned ($0.76) earnings per share. On average, equities analysts forecast that Ambarella will post -3 EPS for the current fiscal year.

Insider Buying and Selling at Ambarella

In related news, VP Christopher Day sold 483 shares of Ambarella stock in a transaction 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 owns 21,370 shares of the company’s stock, valued at approximately $1,144,149.80. This trade represents a 2.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,423 shares of company stock valued at $1,356,402. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Azzad Asset Management Inc. ADV lifted its holdings in shares of Ambarella by 2.4% in 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 in the last quarter. Versor Investments LP lifted its stake in Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock valued at $261,000 after acquiring an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Ambarella by 6.4% during 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 grew its stake 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 in the last quarter. Finally, CWM LLC raised its holdings in shares of 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 purchasing an additional 304 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

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.