Stifel Nicolaus Boosts Ambarella (NASDAQ:AMBA) Price Target to $80.00

Ambarella (NASDAQ:AMBA) had its price objective raised by Stifel Nicolaus from $75.00 to $80.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on AMBA. Craig Hallum boosted their price objective on shares of Ambarella from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday. Bank of America boosted their price objective on shares of Ambarella from $50.00 to $57.00 and gave the stock an underperform rating in a research report on Wednesday. Roth Mkm dropped their target price on shares of Ambarella from $65.00 to $60.00 and set a neutral rating for the company in a research report on Friday, May 31st. Needham & Company LLC reiterated a buy rating and set a $90.00 target price on shares of Ambarella in a research report on Wednesday. Finally, TD Cowen upped their target price on shares of Ambarella from $65.00 to $75.00 and gave the company a hold rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $74.58.

Ambarella Price Performance

Shares of AMBA opened at $59.70 on Wednesday. The company has a market capitalization of $2.45 billion, a P/E ratio of -14.01 and a beta of 1.59. Ambarella has a one year low of $39.69 and a one year high of $65.88. The business’s 50 day simple moving average is $52.97 and its 200-day simple moving average is $51.65.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the previous year, the company posted ($0.76) EPS. Ambarella’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Ambarella will post -3.35 EPS for the current fiscal year.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 8,900 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the sale, the vice president now owns 179,193 shares in the company, valued at approximately $9,950,587.29. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Christopher Day sold 1,408 shares of the company’s 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 transaction, the vice president now directly owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Chi-Hong Ju sold 8,900 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $55.53, for a total transaction of $494,217.00. Following the completion of the transaction, the vice president now directly owns 179,193 shares of the company’s stock, valued at $9,950,587.29. The disclosure for this sale can be found here. Insiders sold a total of 20,499 shares of company stock worth $1,137,787 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 590 shares during the period. Creative Planning acquired a new position in shares of Ambarella during the 2nd quarter worth about $325,000. Cim Investment Management Inc. acquired a new position in shares of Ambarella during the 2nd quarter worth about $239,000. The Manufacturers Life Insurance Company boosted its stake in shares of 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 buying an additional 343,385 shares during the last quarter. Finally, Millennium Management LLC boosted 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 buying an additional 94,257 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

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.