Ambarella (NASDAQ:AMBA) Reaches New 52-Week High – Time to Buy?

Ambarella, Inc. (NASDAQ:AMBA)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.75 and last traded at $83.32, with a volume of 3566 shares changing hands. The stock had previously closed at $80.79.

Analysts Set New Price Targets

AMBA has been the topic of several research analyst reports. Susquehanna lifted their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com cut Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Craig Hallum lifted their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Needham & Company LLC increased their price objective on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.42.

Ambarella Price Performance

The stock’s 50-day moving average is $71.42 and its 200 day moving average is $60.68. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -21.13 and a beta of 1.66.

Insider Activity

In other Ambarella news, CTO Leslie Kohn sold 1,757 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total value of $132,495.37. Following the completion of the transaction, the chief technology officer now directly owns 959,676 shares of the company’s stock, valued at approximately $72,369,167.16. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 1,278 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $71.61, for a total value of $91,517.58. Following the sale, the vice president now directly owns 17,188 shares in the company, valued at $1,230,832.68. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock valued at $1,945,436 in the last three months. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Ambarella

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in shares of Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after buying an additional 476,406 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after acquiring an additional 343,385 shares during the last quarter. Barclays PLC lifted its holdings in shares of Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Marshall Wace LLP grew its position in shares of Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after purchasing an additional 250,778 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Ambarella by 7.0% during the 2nd 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 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.