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

Ambarella (NASDAQ:AMBA) had its price target raised by investment analysts at Morgan Stanley from $73.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 31.56% from the stock’s previous close.

A number of other brokerages have also recently commented on AMBA. Roth Mkm reiterated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Northland Securities reiterated an “outperform” rating and issued a $95.00 target price (up from $75.00) on shares of Ambarella in a research report on Wednesday. Craig Hallum raised their price objective on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Finally, Westpark Capital restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.42.

Ambarella Trading Up 1.7 %

AMBA traded up $1.12 during midday trading on Wednesday, hitting $68.41. 2,367,712 shares of the company traded hands, compared to its average volume of 377,993. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -15.84 and a beta of 1.63. Ambarella has a 52-week low of $39.69 and a 52-week high of $69.55. The business has a 50 day simple moving average of $58.23 and a two-hundred day simple moving average of $54.89.

Ambarella (NASDAQ:AMBA) last posted 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. The business had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) earnings per share. Equities research analysts anticipate that Ambarella will post -3 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Yun-Lung Chen sold 5,963 shares of Ambarella 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 completion of the transaction, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now owns 18,466 shares of the company’s stock, valued at $1,071,028. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,423 shares of company stock worth $1,356,402 over the last 90 days. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMBA. Azzad Asset Management Inc. ADV lifted its stake in shares of Ambarella by 2.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 231 shares during the period. Versor Investments LP increased its holdings in shares of Ambarella by 5.9% in the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Ambarella by 6.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after purchasing an additional 285 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings 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 valued at $945,000 after purchasing an additional 288 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. 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.