Needham & Company LLC Issues Positive Forecast for Ambarella (NASDAQ:AMBA) Stock Price

Ambarella (NASDAQ:AMBA) had its target price lifted by Needham & Company LLC from $90.00 to $100.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on the company. Craig Hallum increased their price objective on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Bank of America increased their price target on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. Stifel Nicolaus increased their target price on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Northland Securities reissued an “outperform” rating and set a $95.00 target price (up from $75.00) on shares of Ambarella in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.67.

Ambarella Trading Down 1.2 %

Shares of Ambarella stock opened at $71.55 on Wednesday. The firm has a fifty day simple moving average of $59.27 and a 200-day simple moving average of $55.31. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -18.54 and a beta of 1.63. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32.

Ambarella (NASDAQ:AMBA) last issued its quarterly 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 return on equity of 23.52% and a negative net margin of 62.38%. The company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period last year, the business posted ($0.76) earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Ambarella will post -3 earnings per share for the current year.

Insider Buying and Selling at Ambarella

In other news, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64. Following the completion of the sale, the chief executive officer now owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Ambarella

A number of hedge funds and other institutional investors have recently made changes to their positions in AMBA. Meeder Asset Management Inc. bought a new stake in Ambarella during the 2nd quarter worth about $26,000. Blue Trust Inc. lifted its position in shares of Ambarella by 180.3% during 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 in the last quarter. CWM LLC grew its stake in shares of Ambarella by 127.7% during 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 last quarter. Signaturefd LLC increased its holdings in shares of Ambarella by 389.6% in 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 raised its position in 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 purchasing an additional 842 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.