Ambarella (NASDAQ:AMBA) Price Target Raised to $57.00

Ambarella (NASDAQ:AMBA) had its target price boosted by Bank of America from $50.00 to $57.00 in a report published on Wednesday, Benzinga reports. They currently have an underperform rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the company. Westpark Capital reissued a buy rating and set a $85.00 price target on shares of Ambarella in a research report on Monday, August 26th. Craig Hallum upped their target price on Ambarella from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday. Roth Mkm dropped their target price on Ambarella from $65.00 to $60.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 target price on shares of Ambarella in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Ambarella has a consensus rating of Hold and an average target price of $74.58.

Ambarella Trading Up 0.7 %

NASDAQ:AMBA opened at $59.70 on Wednesday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -14.01 and a beta of 1.59. Ambarella has a 1-year low of $39.69 and a 1-year high of $65.88. The business’s fifty day moving average price is $52.97 and its 200 day moving average price is $51.65.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) earnings per share. Equities analysts forecast that Ambarella will post -3.35 earnings per share for the current year.

Insider Transactions at Ambarella

In other news, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the completion of the sale, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Chi-Hong Ju sold 1,895 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.50, for a total transaction of $108,962.50. Following the completion of the sale, the vice president now owns 180,252 shares in the company, valued at approximately $10,364,490. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 1,408 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,499 shares of company stock worth $1,137,787. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after acquiring an additional 248,297 shares in the last quarter. Millennium Management LLC raised its holdings in 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after acquiring an additional 343,385 shares in the last quarter. Kodai Capital Management LP acquired a new position in Ambarella in the 4th quarter valued at approximately $65,543,000. Finally, Dimensional Fund Advisors LP raised its holdings in Ambarella by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after acquiring an additional 29,379 shares in the last quarter. 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.