Ambarella (NASDAQ:AMBA) Upgraded at Bank of America

Bank of America upgraded shares of Ambarella (NASDAQ:AMBA) from an underperform rating to a neutral rating in a research report report published on Monday morning, MarketBeat reports. The firm currently has $80.00 price objective on the semiconductor company’s stock.

A number of other research analysts have also recently commented on the company. Needham & Company LLC upped their price objective on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Northland Securities reiterated an “outperform” rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Craig Hallum boosted their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. TD Cowen increased their target price 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Ambarella Stock Down 5.5 %

Shares of AMBA opened at $69.75 on Monday. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The stock has a fifty day simple moving average of $63.28 and a two-hundred day simple moving average of $57.31. The company has a market capitalization of $2.91 billion, a PE ratio of -18.07 and a beta of 1.68.

Insider Activity

In related news, VP Chi-Hong Ju sold 5,118 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now directly owns 158,686 shares of the company’s stock, valued at $12,014,117.06. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hsiao-Wuen Hon sold 377 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.15, for a total transaction of $27,954.55. Following the completion of the sale, the director now directly owns 28,278 shares of the company’s stock, valued at approximately $2,096,813.70. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,749 shares of company stock worth $1,491,456. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its position in shares of Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 22,144 shares during the period. Mirabella Financial Services LLP purchased a new position in shares of Ambarella during the third quarter worth approximately $1,530,000. Millennium Management LLC increased its holdings in shares of Ambarella by 7.0% in the 2nd 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 during the period. FMR LLC increased its holdings in shares of Ambarella by 185.4% in the 3rd quarter. FMR LLC now owns 17,102 shares of the semiconductor company’s stock valued at $965,000 after acquiring an additional 11,110 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Ambarella by 6,014.3% during the 3rd 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. Hedge funds and other 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.