Ambarella (NASDAQ:AMBA) Shares Gap Up Following Analyst Upgrade

Shares of Ambarella, Inc. (NASDAQ:AMBA) gapped up prior to trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $80.00 to $95.00. The stock had previously closed at $68.41, but opened at $79.78. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $71.81, with a volume of 4,398,766 shares changing hands.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC increased their price objective on shares of Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum increased their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Westpark Capital reiterated a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Monday, August 26th. Susquehanna boosted their price objective on shares of Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.67.

Insider Buying and Selling

In related news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total value of $245,479.64. Following the completion of the sale, the chief executive officer now owns 803,574 shares in the company, valued at approximately $45,016,215.48. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents 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 worth $1,356,402 over the last ninety days. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Ambarella

Several institutional investors and hedge funds have recently modified their holdings of AMBA. Meeder Asset Management Inc. purchased a new stake in Ambarella during the second quarter valued at $26,000. Blue Trust Inc. grew its holdings in shares of Ambarella by 180.3% in the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the last quarter. CWM LLC boosted its holdings in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 304 shares during the period. Signaturefd LLC lifted its stake in Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Ambarella by 6,014.3% in the 3rd 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 last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Stock Up 5.0 %

The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -15.84 and a beta of 1.63. The company’s 50 day moving average price is $58.23 and its 200 day moving average price is $54.89.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the business earned ($0.76) EPS. The company’s revenue was up 2.6% on a year-over-year basis. As a group, analysts expect that Ambarella, Inc. will post -3 earnings per share for the current year.

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.