Ambarella (NASDAQ:AMBA) Price Target Raised to $95.00 at Stifel Nicolaus

Ambarella (NASDAQ:AMBA) had its price objective increased by stock analysts at Stifel Nicolaus from $80.00 to $95.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 38.87% from the stock’s previous close.

Several other brokerages have also recently commented on AMBA. Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. TD Cowen boosted their target price on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Northland Securities reiterated an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a report on Wednesday. Finally, Craig Hallum boosted their target price on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Ambarella presently has a consensus rating of “Hold” and a consensus price target of $81.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA traded up $1.12 on Wednesday, hitting $68.41. The stock had a trading volume of 2,367,712 shares, compared to its average volume of 377,993. The firm’s 50 day moving average price is $58.23 and its 200-day moving average price is $54.89. Ambarella has a twelve month low of $39.69 and a twelve month high of $69.55. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -15.84 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter last year, the firm earned ($0.76) EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that Ambarella will post -3 EPS for the current year.

Insider Buying and Selling

In other Ambarella news, CFO John Alexander Young sold 2,139 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the transaction, the chief financial officer now owns 103,529 shares in the company, valued at approximately $5,542,942.66. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yun-Lung Chen sold 5,963 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,423 shares of company stock valued at $1,356,402 in the last three months. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. Vanguard Group Inc. grew its holdings in Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares during the period. State Street Corp boosted its position in shares of Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ambarella by 7.0% during the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ambarella by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after buying an additional 61,387 shares during the period. Finally, 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 worth $69,698,000 after acquiring an additional 343,385 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

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.