Ambarella (NASDAQ:AMBA) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Ambarella (NASDAQ:AMBA) had its target price increased by research analysts at Needham & Company LLC from $90.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 46.18% from the stock’s current price.

Several other brokerages have also recently issued reports on AMBA. Westpark Capital restated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Bank of America increased their price target on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Northland Securities reiterated an “outperform” rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research note on Wednesday. TD Cowen increased their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Ambarella has an average rating of “Hold” and an average price target of $76.67.

Ambarella Stock Up 1.7 %

Shares of AMBA opened at $68.41 on Wednesday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $69.55. The company has a market cap of $2.82 billion, a P/E ratio of -15.84 and a beta of 1.63. The firm’s 50 day moving average price is $58.23 and its 200 day moving average price is $54.89.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company 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 business posted ($0.76) EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Research analysts forecast that Ambarella will post -3 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Christopher Day sold 2,904 shares of the stock in a transaction dated 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 owns 18,466 shares in the company, valued at $1,071,028. This trade represents a 13.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Feng-Ming Wang sold 4,382 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64. Following the completion of the transaction, the chief executive officer now owns 803,574 shares of the company’s stock, valued at $45,016,215.48. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ambarella

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after acquiring an additional 14,568 shares in the last quarter. Sender Co & Partners Inc. purchased a new position in Ambarella during the 3rd quarter valued at about $481,000. Barclays PLC increased its holdings in Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after acquiring an additional 286,296 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Ambarella by 8.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,573 shares of the semiconductor company’s stock valued at $709,000 after acquiring an additional 1,002 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Ambarella during the 3rd quarter valued at about $843,000. Hedge funds and other institutional investors 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.