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

Ambarella (NASDAQ:AMBA) had its price target increased by analysts at Needham & Company LLC from $90.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 46.18% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised their price target on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note 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 research note on Wednesday, August 28th. Susquehanna decreased their target price on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Craig Hallum raised their target price on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Ambarella presently has a consensus rating of “Hold” and a consensus target price of $76.67.

Ambarella Price Performance

Ambarella stock opened at $68.41 on Wednesday. Ambarella has a 12-month low of $39.69 and a 12-month high of $69.55. The stock has a market capitalization of $2.82 billion, a P/E ratio of -15.84 and a beta of 1.63. The firm’s 50-day moving average is $58.23 and its two-hundred day moving average is $54.89.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 last year, the company earned ($0.76) EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts forecast that Ambarella will post -3 EPS for the current year.

Insider Activity

In related news, 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Leslie Kohn sold 1,608 shares of Ambarella stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $86,092.32. Following the completion of the sale, the chief technology officer now owns 961,433 shares of the company’s stock, valued at approximately $51,475,122.82. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock worth $1,356,402 over the last 90 days. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of Ambarella in the second quarter worth $26,000. Blue Trust Inc. boosted its holdings in Ambarella by 180.3% in the third 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 boosted its holdings in Ambarella by 127.7% in the second 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 Ambarella by 389.6% in 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 period. Finally, Larson Financial Group LLC boosted its holdings in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 842 shares during the period. 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.