Ambarella (NASDAQ:AMBA) Given New $90.00 Price Target at Morgan Stanley

Ambarella (NASDAQ:AMBA) had its target price upped by Morgan Stanley from $73.00 to $90.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on the stock. Craig Hallum boosted their price target on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC boosted their target price on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America raised their price target on Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a report on Wednesday. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Finally, Northland Securities restated an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a research report on Wednesday. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.67.

Ambarella Trading Up 5.9 %

Shares of AMBA stock opened at $72.44 on Wednesday. Ambarella has a twelve month low of $39.69 and a twelve month high of $81.32. The business’s 50 day moving average is $58.23 and its two-hundred day moving average is $54.89. The company has a market capitalization of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the previous year, the company posted ($0.76) EPS. Ambarella’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling at Ambarella

In related news, COO Chan W. Lee sold 1,490 shares of Ambarella 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 completion of the transaction, the chief operating officer now directly owns 121,406 shares in the company, valued at $6,500,077.24. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 483 shares of the 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 sale, the vice president now owns 21,370 shares in the company, valued at approximately $1,144,149.80. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock valued at $1,356,402 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMBA. Meeder Asset Management Inc. acquired a new position in shares of Ambarella in the second quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in shares of Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the period. CWM LLC lifted its stake in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares during the period. Signaturefd LLC boosted its holdings in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 526 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 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.