Stifel Nicolaus Forecasts Strong Price Appreciation for Ambarella (NASDAQ:AMBA) Stock

Ambarella (NASDAQ:AMBA) had its target price boosted by Stifel Nicolaus from $80.00 to $95.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently issued reports on AMBA. Craig Hallum raised their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Securities reissued an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday. TD Cowen upped their target price on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Westpark Capital reissued a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Monday, August 26th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Stock Down 1.2 %

Ambarella stock opened at $71.55 on Wednesday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -18.54 and a beta of 1.63. The firm’s fifty day moving average is $59.27 and its 200 day moving average is $55.31.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter last year, the firm earned ($0.76) EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In other Ambarella news, VP Christopher Day sold 483 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the sale, the vice president now owns 21,370 shares in the company, valued at $1,144,149.80. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction 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 transaction, 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 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. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd lifted its position in shares of Ambarella by 592.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after buying an additional 22,144 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of Ambarella during the 3rd quarter worth approximately $1,530,000. SWS Partners lifted its position in Ambarella by 25.3% during the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after acquiring an additional 16,049 shares during the last quarter. Millennium Management LLC boosted its stake in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ambarella by 18.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after purchasing an additional 35,977 shares during the last quarter. Institutional investors 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.