Brokerages Set Ambarella, Inc. (NASDAQ:AMBA) Target Price at $74.09

Shares of Ambarella, Inc. (NASDAQ:AMBA) have received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $74.09.

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Susquehanna reduced their target price on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Craig Hallum boosted their price target on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. Finally, Bank of America boosted their target price on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 483 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $25,859.82. Following the completion of the sale, the vice president now owns 21,370 shares in the company, valued at approximately $1,144,149.80. This trade represents a 2.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,423 shares of company stock worth $1,356,402. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Vanguard Group Inc. increased its stake in Ambarella by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares during the period. State Street Corp increased its position in shares of Ambarella by 2.6% during the third 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 raised its stake in shares of Ambarella by 7.0% in the second 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 boosted its holdings in Ambarella by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Ambarella by 36.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after purchasing an additional 343,385 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Stock Up 1.7 %

Shares of NASDAQ AMBA opened at $68.41 on Wednesday. Ambarella has a 52-week low of $39.69 and a 52-week high of $69.55. The company’s 50-day simple moving average is $57.95 and its 200-day simple moving average is $54.73. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -15.58 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. Ambarella’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.76) EPS. Equities research analysts anticipate that Ambarella will post -3 EPS for the current fiscal year.

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.