Ambarella (NASDAQ:AMBA) Price Target Raised to $90.00

Ambarella (NASDAQ:AMBA) had its price target boosted by Craig Hallum from $85.00 to $90.00 in a research report released on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

AMBA has been the topic of several other research reports. TD Cowen upped their target price on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Northland Securities restated an “outperform” rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a research note on Wednesday. Needham & Company LLC increased their price objective on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Finally, Stifel Nicolaus raised their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.67.

Ambarella Price Performance

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

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

Insider Activity

In other news, VP Yun-Lung Chen sold 5,963 shares of the firm’s 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 sale, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was 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 of the company’s stock, 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 quarter, insiders have sold 24,423 shares of company stock worth $1,356,402. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Ambarella by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after purchasing an additional 14,568 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in shares of Ambarella during the third quarter worth about $481,000. Barclays PLC increased its stake in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after buying an additional 286,296 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Ambarella by 8.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,573 shares of the semiconductor company’s stock valued at $709,000 after buying an additional 1,002 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Ambarella in the 3rd quarter valued at approximately $843,000. Institutional investors and hedge funds 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.