Brokerages Set Ambarella, Inc. (NASDAQ:AMBA) PT at $69.75

Ambarella, Inc. (NASDAQ:AMBA) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $69.75.

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research note on Friday, May 31st. Morgan Stanley raised their price objective on shares of Ambarella from $57.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Bank of America cut their target price on Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Tuesday, June 11th. Finally, Roth Mkm cut their price objective on Ambarella from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st.

Ambarella Stock Up 0.3 %

Shares of NASDAQ:AMBA opened at $53.39 on Friday. The firm has a fifty day simple moving average of $50.39 and a two-hundred day simple moving average of $53.24. Ambarella has a 52 week low of $40.31 and a 52 week high of $85.09. The stock has a market capitalization of $2.19 billion, a P/E ratio of -12.53 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.09. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company had revenue of $54.47 million during the quarter, compared to analyst estimates of $54.04 million. On average, analysts expect that Ambarella will post -3.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total value of $317,400.00. Following the completion of the sale, the vice president now owns 173,193 shares in the company, valued at approximately $9,161,909.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 19,091 shares of company stock worth $1,050,969 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Ambarella by 6.1% during the first 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 during the last quarter. Kodai Capital Management LP acquired a new stake in shares of Ambarella in the 4th quarter worth $65,543,000. Dimensional Fund Advisors LP grew its stake in Ambarella by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after buying an additional 29,379 shares during the last quarter. Rokos Capital Management LLP increased its position in Ambarella by 121.0% during the 3rd quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock valued at $34,626,000 after buying an additional 355,689 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Ambarella by 24.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 533,964 shares of the semiconductor company’s stock valued at $32,727,000 after buying an additional 104,072 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

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.