Susquehanna Issues Positive Forecast for Ambarella (NASDAQ:AMBA) Stock Price

Ambarella (NASDAQ:AMBA) had its price target raised by Susquehanna from $70.00 to $85.00 in a research note released on Wednesday,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

AMBA has been the topic of a number of other reports. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Craig Hallum lifted their target price on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their target price on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, Bank of America lifted their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $81.67.

Ambarella Stock Performance

AMBA opened at $71.55 on Wednesday. Ambarella has a one year low of $39.69 and a one year high of $81.32. The company has a market cap of $2.95 billion, a P/E ratio of -18.54 and a beta of 1.63. The business’s 50-day simple moving average is $59.27 and its 200-day simple moving average is $55.31.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 62.38% and a negative return on equity of 23.52%. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period in the prior year, the firm posted ($0.76) earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Chan W. Lee sold 1,490 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $79,774.60. Following the completion of the sale, the chief operating officer now owns 121,406 shares in the company, valued at $6,500,077.24. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Day sold 483 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the sale, the vice president now owns 21,370 shares of the company’s stock, valued at approximately $1,144,149.80. The trade was a 2.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,423 shares of company stock valued at $1,356,402 over the last three months. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. Meeder Asset Management Inc. acquired a new stake in Ambarella in the second quarter valued at $26,000. Blue Trust Inc. increased its holdings in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 321 shares in the last quarter. CWM LLC increased its holdings in shares of Ambarella by 127.7% in the 2nd 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 stake in shares of Ambarella by 389.6% in 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 during the period. Finally, Larson Financial Group LLC grew its position in Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the period. Institutional investors and hedge funds 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.