Brokerages Set Ambarella, Inc. (NASDAQ:AMBA) Price Target at $71.75

Ambarella, Inc. (NASDAQ:AMBA) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $71.75.

AMBA has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. StockNews.com raised Ambarella to a “sell” rating in a report on Saturday. Wells Fargo & Company downgraded Ambarella from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $85.00 to $65.00 in a report on Wednesday, January 3rd. Susquehanna boosted their price target on Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, February 28th.

Insider Buying and Selling

In other Ambarella news, COO Chan W. Lee sold 1,075 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the sale, the chief operating officer now directly owns 124,146 shares in the company, valued at approximately $6,116,673.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ambarella news, COO Chan W. Lee sold 1,075 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $52,965.25. Following the completion of the sale, the chief operating officer now directly owns 124,146 shares in the company, valued at approximately $6,116,673.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John Alexander Young sold 1,546 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $76,171.42. Following the completion of the sale, the chief financial officer now owns 107,571 shares of the company’s stock, valued at $5,300,023.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,648 shares of company stock worth $327,595. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Several large investors have recently modified their holdings of AMBA. Vanguard Group Inc. lifted its stake in Ambarella by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock worth $250,831,000 after acquiring an additional 69,864 shares in the last quarter. BlackRock Inc. lifted its stake in Ambarella by 14.9% during the 1st quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after acquiring an additional 522,698 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Ambarella by 61.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,640,233 shares of the semiconductor company’s stock worth $107,370,000 after acquiring an additional 626,893 shares in the last quarter. State Street Corp lifted its stake in Ambarella by 1.7% during the 2nd quarter. State Street Corp now owns 1,459,029 shares of the semiconductor company’s stock worth $122,077,000 after acquiring an additional 24,745 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Ambarella by 1,951.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,336,384 shares of the semiconductor company’s stock worth $111,815,000 after acquiring an additional 1,271,251 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Stock Down 3.3 %

Ambarella stock opened at $46.19 on Tuesday. Ambarella has a 52 week low of $43.59 and a 52 week high of $89.18. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -10.89 and a beta of 1.66. The stock has a 50-day moving average price of $52.64 and a 200 day moving average price of $54.18.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.03. Ambarella had a negative return on equity of 23.78% and a negative net margin of 74.81%. The firm had revenue of $51.62 million during the quarter, compared to the consensus estimate of $51.68 million. Research analysts anticipate that Ambarella will post -3.53 EPS for the current fiscal year.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.