Ambarella (NASDAQ:AMBA) Price Target Raised to $65.00 at Bank of America

Ambarella (NASDAQ:AMBA) had its price target upped by Bank of America from $57.00 to $65.00 in a research report report published on Wednesday,Benzinga reports. Bank of America currently has an underperform rating on the semiconductor company’s stock.

AMBA has been the subject of a number of other research reports. Susquehanna upped their target price on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a report on Wednesday. Westpark Capital restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Needham & Company LLC increased their price target on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Northland Securities reaffirmed an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research report on Wednesday. Two 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, the stock presently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Price Performance

AMBA opened at $71.55 on Wednesday. Ambarella has a one year low of $39.69 and a one year high of $81.32. The business has a 50 day simple moving average of $59.27 and a two-hundred day simple moving average of $55.37. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -18.54 and a beta of 1.63.

Insider Activity

In other news, VP Christopher Day sold 2,904 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 18,466 shares in the company, valued at $1,071,028. This trade represents a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Chan W. Lee sold 1,490 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $79,774.60. Following the completion of the transaction, the chief operating officer now directly owns 121,406 shares of the company’s stock, valued at approximately $6,500,077.24. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,423 shares of company stock worth $1,356,402. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in Ambarella in the 2nd quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. 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 worth $29,000 after purchasing an additional 304 shares in the last quarter. Signaturefd LLC raised its stake in shares of 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 last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares in the last quarter. 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.