Ambarella (NASDAQ:AMBA) Given New $75.00 Price Target at TD Cowen

Ambarella (NASDAQ:AMBA) had its price target lifted by research analysts at TD Cowen from $65.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target would suggest a potential upside of 42.07% from the company’s current price.

AMBA has been the topic of a number of other reports. Westpark Capital restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research note on Monday. Roth Mkm reduced their price target on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Morgan Stanley boosted their target price on Ambarella from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Ambarella in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.69.

Ambarella Stock Performance

Ambarella stock opened at $52.79 on Wednesday. Ambarella has a one year low of $39.69 and a one year high of $76.36. The company has a 50-day simple moving average of $52.75 and a 200-day simple moving average of $51.52. The firm has a market capitalization of $2.16 billion, a P/E ratio of -12.39 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ambarella will post -3.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Chi-Hong Ju sold 6,000 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ambarella news, VP Chi-Hong Ju sold 6,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total transaction of $317,400.00. Following the transaction, the vice president now directly owns 173,193 shares in the company, valued at approximately $9,161,909.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,408 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the sale, the vice president now owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders sold a total of 20,499 shares of company stock worth $1,137,787 over the last ninety days. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Ambarella

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ambarella by 2.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 195 shares during the period. Azzad Asset Management Inc. ADV increased its stake in shares of Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 231 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of Ambarella by 4.4% in the fourth quarter. Sheets Smith Wealth Management now owns 6,588 shares of the semiconductor company’s stock worth $404,000 after acquiring an additional 275 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Ambarella by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 288 shares in the last quarter. Finally, CWM LLC boosted its position in Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. 82.09% of the stock is 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.