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

Shares of Ambarella, Inc. (NASDAQ:AMBA) gapped up before the market opened on Thursday after Stifel Nicolaus raised their price target on the stock from $95.00 to $100.00. The stock had previously closed at $75.81, but opened at $81.11. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $70.11, with a volume of 730,333 shares changing hands.

AMBA has been the topic of a number of other reports. Needham & Company LLC raised their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Northland Securities reiterated an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Ambarella in a report on Thursday. Finally, Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambarella currently has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Insider Buying and Selling at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $75.90, for a total value of $75,900.00. Following the completion of the sale, the chief operating officer now directly owns 110,918 shares in the company, valued at $8,418,676.20. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Feng-Ming Wang sold 4,296 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $323,961.36. Following the transaction, the chief executive officer now owns 755,231 shares in the company, valued at $56,951,969.71. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,861 shares of company stock valued at $1,945,436. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 321 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 184 shares in the last quarter. Signaturefd LLC increased its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ambarella during the 4th quarter valued at about $37,000. Finally, Sterling Capital Management LLC boosted its stake in Ambarella by 629.3% during the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 516 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Ambarella Stock Down 17.0 %

The stock’s fifty day simple moving average is $76.37 and its two-hundred day simple moving average is $64.94. The firm has a market cap of $2.62 billion, a PE ratio of -16.30 and a beta of 1.66.

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.