Ambarella, Inc. (NASDAQ:AMBA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Ambarella, Inc. (NASDAQ:AMBA) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $86.67.

AMBA has been the topic of several recent analyst reports. Needham & Company LLC lifted their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Morgan Stanley raised their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. 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 report on Wednesday, November 27th. Susquehanna raised their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Finally, Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Monday, December 16th.

Insider Activity

In other Ambarella news, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the completion of the transaction, the vice president now directly owns 158,686 shares of the company’s stock, valued at approximately $12,014,117.06. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Chan W. Lee sold 1,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief operating officer now owns 116,918 shares in the company, valued at approximately $9,254,059.70. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,583 shares of company stock worth $1,853,918. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Ambarella by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock worth $341,596,000 after buying an additional 81,557 shares in the last quarter. State Street Corp boosted its holdings in shares of Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after acquiring an additional 47,856 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ambarella by 7.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock worth $105,628,000 after acquiring an additional 98,841 shares during the period. Millennium Management LLC raised its holdings in shares of Ambarella by 11.5% during the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after purchasing an additional 144,268 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Ambarella by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares during the period. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Stock Performance

Shares of AMBA stock opened at $55.35 on Friday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The firm has a market cap of $2.31 billion, a P/E ratio of -14.34 and a beta of 1.66. The business’s 50 day moving average price is $75.37 and its 200-day moving average price is $65.44.

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.