Ambarella (NASDAQ:AMBA) Price Target Raised to $95.00 at Stifel Nicolaus

Ambarella (NASDAQ:AMBA) had its price target raised by Stifel Nicolaus from $80.00 to $95.00 in a research note published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also weighed in on the company. Morgan Stanley raised their target price on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna boosted their target price on shares of Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research note on Wednesday. Bank of America increased their price target on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Craig Hallum boosted their price objective on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Roth Mkm reiterated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ambarella has an average rating of “Hold” and an average target price of $81.67.

Ambarella Stock Up 5.9 %

Shares of AMBA stock opened at $72.44 on Wednesday. The company has a market capitalization of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63. Ambarella has a 12-month low of $39.69 and a 12-month high of $81.32. The firm has a 50-day moving average price of $58.23 and a 200 day moving average price of $54.89.

Ambarella (NASDAQ:AMBA) last announced its 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 return on equity of 26.01% and a negative net margin of 79.46%. The business had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period in the previous year, the business earned ($0.76) EPS. Ambarella’s revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect 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 Ambarella stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the transaction, the vice president now owns 18,466 shares in the company, valued at $1,071,028. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the transaction, the chief financial officer now directly owns 103,529 shares in the company, valued at approximately $5,542,942.66. The trade was a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,423 shares of company stock worth $1,356,402. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares during the period. State Street Corp grew its stake 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 worth $108,536,000 after acquiring an additional 47,856 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Ambarella by 4.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after purchasing an additional 61,387 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares in the last quarter. Institutional investors own 82.09% of the company’s stock.

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.