Ambarella (NASDAQ:AMBA) Price Target Lowered to $80.00 at Morgan Stanley

Ambarella (NASDAQ:AMBA) had its price objective cut by Morgan Stanley from $90.00 to $80.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

AMBA has been the topic of a number of other reports. Wall Street Zen upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC boosted their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of Ambarella in a research report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their price target on Ambarella from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Ambarella Stock Performance

Shares of Ambarella stock opened at $62.00 on Tuesday. Ambarella has a 52-week low of $38.86 and a 52-week high of $85.15. The stock’s 50-day simple moving average is $51.37 and its 200 day simple moving average is $63.44. The stock has a market capitalization of $2.63 billion, a P/E ratio of -16.06 and a beta of 1.99.

Insider Transactions at Ambarella

In other news, CEO Feng-Ming Wang sold 3,194 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $175,733.88. Following the completion of the transaction, the chief executive officer now owns 798,311 shares of the company’s stock, valued at approximately $43,923,071.22. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Alexander Young sold 2,103 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $115,707.06. Following the transaction, the chief financial officer now directly owns 113,886 shares of the company’s stock, valued at $6,266,007.72. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,328 shares of company stock valued at $513,467. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

Several hedge funds and other institutional investors have recently bought and sold shares of AMBA. Barclays PLC boosted its stake in Ambarella by 281.3% in the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after buying an additional 286,296 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Ambarella by 24.2% in the fourth quarter. Pacer Advisors Inc. now owns 965 shares of the semiconductor company’s stock worth $70,000 after buying an additional 188 shares in the last quarter. R Squared Ltd purchased a new stake in Ambarella in the fourth quarter worth approximately $68,000. Trust Point Inc. boosted its stake in Ambarella by 4.9% in the fourth quarter. Trust Point Inc. now owns 10,560 shares of the semiconductor company’s stock worth $768,000 after buying an additional 497 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Ambarella by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company’s stock worth $364,000 after buying an additional 236 shares in the last quarter. 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.