Ambarella (NASDAQ:AMBA) Upgraded at Bank of America

Bank of America upgraded shares of Ambarella (NASDAQ:AMBA) from an underperform rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have $80.00 target price on the semiconductor company’s stock.

A number of other analysts have also issued reports on AMBA. Northland Securities reiterated an “outperform” rating and issued a $95.00 price target (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Needham & Company LLC upped their target price on Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Ambarella in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, TD Cowen upped their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Ambarella Price Performance

Shares of AMBA opened at $69.75 on Monday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -18.07 and a beta of 1.68. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32. The company has a 50-day moving average of $63.28 and a 200 day moving average of $57.31.

Insiders Place Their Bets

In other news, CEO Feng-Ming Wang sold 4,296 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $323,961.36. Following the sale, the chief executive officer now owns 755,231 shares in the company, valued at $56,951,969.71. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Alexander Young sold 2,136 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $161,075.76. Following the sale, the chief financial officer now directly owns 101,393 shares in the company, valued at approximately $7,646,046.13. This trade represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,749 shares of company stock valued at $1,491,456. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new position in shares of Ambarella during the 2nd quarter worth approximately $26,000. Blue Trust Inc. raised its position in Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares during the period. CWM LLC lifted its holdings 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 in the last quarter. Signaturefd LLC lifted its holdings in Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the period. 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.