Ambarella (NASDAQ:AMBA) Price Target Raised to $90.00 at Craig Hallum

Ambarella (NASDAQ:AMBA) had its price objective hoisted by equities researchers at Craig Hallum from $85.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price would suggest a potential upside of 31.56% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Westpark Capital reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Roth Mkm restated a “neutral” rating and set a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Susquehanna lifted their price target on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Friday, August 23rd. Finally, Northland Securities reaffirmed an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research note on Wednesday. Two investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.00.

Ambarella Stock Up 1.7 %

Shares of Ambarella stock traded up $1.12 during trading on Wednesday, hitting $68.41. 2,367,712 shares of the stock traded hands, compared to its average volume of 377,993. The firm’s fifty day moving average is $58.23 and its 200-day moving average is $54.89. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -15.84 and a beta of 1.63. Ambarella has a 52 week low of $39.69 and a 52 week high of $69.55.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations 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 revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.76) EPS. On average, analysts forecast that Ambarella will post -3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $114,522.06. Following the completion of the transaction, the chief financial officer now owns 103,529 shares of the company’s stock, valued at $5,542,942.66. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,423 shares of company stock valued at $1,356,402 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in shares of Ambarella during the second quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in Ambarella by 180.3% during 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 during 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 worth $29,000 after purchasing an additional 304 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Ambarella by 389.6% during 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 in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Company Profile

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.