Ambarella (NASDAQ:AMBA) Price Target Raised to $90.00 at Morgan Stanley

Ambarella (NASDAQ:AMBA) had its target price boosted by Morgan Stanley from $73.00 to $90.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the company. Susquehanna upped their price target on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday. Needham & Company LLC upped their target price on shares of Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America upped their price objective on shares of Ambarella from $57.00 to $65.00 and gave the stock an “underperform” rating in a report on Wednesday. Roth Mkm restated a “neutral” rating and set a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $95.00 price objective (up from $75.00) on shares of Ambarella in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.67.

Ambarella Price Performance

AMBA stock opened at $72.44 on Wednesday. Ambarella has a 1 year low of $39.69 and a 1 year high of $81.32. The firm has a market capitalization of $2.99 billion, a PE ratio of -16.77 and a beta of 1.63. The business has a 50 day simple moving average of $58.23 and a 200-day simple moving average of $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 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 analyst estimates of $62.10 million. During the same quarter in the previous year, the firm earned ($0.76) EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Ambarella will post -3 EPS for the current year.

Insider Buying and Selling at Ambarella

In other Ambarella news, VP Christopher Day sold 2,904 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares in the company, valued at $1,071,028. This trade represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock valued at $1,356,402 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after acquiring an additional 14,568 shares in the last quarter. Sender Co & Partners Inc. purchased a new stake in Ambarella in the third quarter valued at approximately $481,000. Barclays PLC boosted its holdings in shares of Ambarella by 281.3% in the third 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 during the period. Y Intercept Hong Kong Ltd grew its position in shares of Ambarella by 8.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,573 shares of the semiconductor company’s stock worth $709,000 after acquiring an additional 1,002 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Ambarella during the third quarter worth approximately $843,000. Hedge funds and other 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.