Susquehanna Trims Ambarella (NASDAQ:AMBA) Target Price to $70.00

Ambarella (NASDAQ:AMBA) had its target price trimmed by Susquehanna from $80.00 to $70.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley upped their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Roth Mkm restated a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Craig Hallum increased their price target on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Bank of America boosted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus increased their target price on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ambarella presently has an average rating of “Hold” and a consensus price target of $74.09.

Ambarella Stock Up 0.9 %

Ambarella stock opened at $57.88 on Monday. The stock has a 50-day moving average price of $54.81 and a 200 day moving average price of $52.37. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -13.59 and a beta of 1.62. Ambarella has a 52 week low of $39.69 and a 52 week high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.76) earnings per share. Research analysts anticipate that Ambarella will post -3 EPS for the current fiscal year.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction that occurred on 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 approximately $1,071,028. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ambarella news, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction on 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 directly owns 18,466 shares in the company, valued at $1,071,028. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth M. Schwarting sold 913 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the sale, the director now owns 8,155 shares in the company, valued at approximately $446,404.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,423 shares of company stock valued at $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Ambarella by 6.1% during the 1st 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 last quarter. Millennium Management LLC lifted its stake in Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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. Dimensional Fund Advisors LP increased its stake in Ambarella by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock valued at $36,854,000 after purchasing an additional 2,994 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after buying an additional 250,778 shares during 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.