Ambarella, Inc. (NASDAQ:AMBA) Receives $84.17 Consensus Price Target from Brokerages

Shares of Ambarella, Inc. (NASDAQ:AMBA) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $84.17.

AMBA has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Ambarella in a research note on Friday, December 6th. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Monday, December 16th. Northland Securities reiterated an “outperform” rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Morgan Stanley boosted their price objective on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus raised their target price on Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th.

Ambarella Stock Up 3.1 %

Shares of NASDAQ:AMBA opened at $76.16 on Thursday. Ambarella has a twelve month low of $39.69 and a twelve month high of $81.32. The stock’s 50 day moving average is $69.86 and its 200-day moving average is $59.97. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -19.73 and a beta of 1.66.

Insiders Place Their Bets

In other Ambarella news, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now owns 158,686 shares of the company’s stock, valued at approximately $12,014,117.06. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Feng-Ming Wang sold 4,296 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $323,961.36. Following the transaction, the chief executive officer now directly owns 755,231 shares of the company’s stock, valued at $56,951,969.71. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,861 shares of company stock valued at $1,869,536. Insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Several hedge funds have recently made changes to their positions in AMBA. State Street Corp grew its stake in shares of Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after acquiring an additional 47,856 shares during the period. Millennium Management LLC boosted its position in Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the period. The Manufacturers Life Insurance Company boosted its position in Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares during the period. Geode Capital Management LLC increased its stake in shares of Ambarella by 1.6% in the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after purchasing an additional 14,568 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Ambarella by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after purchasing an additional 355,078 shares during the period. 82.09% of the stock is currently owned by institutional investors.

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.