Ambarella (NASDAQ:AMBA) Upgraded by StockNews.com to “Hold” Rating

Ambarella (NASDAQ:AMBA) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

AMBA has been the topic of several other reports. Needham & Company LLC increased their price objective on shares of Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Bank of America increased their price target on Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. TD Cowen lifted their price objective on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Susquehanna raised their target price on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Ambarella Stock Performance

Ambarella stock traded down $1.38 during trading hours on Monday, reaching $70.17. 1,090,397 shares of the company’s stock traded hands, compared to its average volume of 601,639. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -18.18 and a beta of 1.63. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $81.32. The firm’s 50 day moving average is $59.60 and its 200-day moving average is $55.59.

Insider Buying and Selling

In related news, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the transaction, the vice president now directly owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This represents a 13.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth M. Schwarting sold 913 shares of Ambarella stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $54.74, for a total value of $49,977.62. Following the completion of the sale, the director now directly owns 8,155 shares in the company, valued at $446,404.70. This represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Large investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Ambarella by 2.6% in the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after purchasing an additional 47,856 shares during the last quarter. Millennium Management LLC boosted its holdings 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 last quarter. The Manufacturers Life Insurance Company grew its position 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 in the last quarter. Geode Capital Management LLC increased its stake in Ambarella by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after buying an additional 14,568 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after buying an additional 355,078 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.