Ambarella (NASDAQ:AMBA) Shares Gap Up on Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA) gapped up prior to trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $80.00 to $95.00. The stock had previously closed at $68.41, but opened at $79.78. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $71.81, with a volume of 4,398,766 shares changing hands.

A number of other research firms have also recently issued reports on AMBA. Bank of America lifted their target price on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Susquehanna boosted their price target on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday. Roth Mkm reiterated a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Finally, Morgan Stanley upped their price objective on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.67.

Insider Buying and Selling at Ambarella

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

Institutional Trading of Ambarella

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new position in Ambarella during the second quarter worth $26,000. Blue Trust Inc. increased its stake in shares of Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 321 shares during the last quarter. CWM LLC boosted its holdings in Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. Signaturefd LLC raised its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 526 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Stock Performance

The stock has a fifty day simple moving average of $58.23 and a two-hundred day simple moving average of $54.89. The stock has a market cap of $2.96 billion, a PE ratio of -15.84 and a beta of 1.63.

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

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.