Ambarella (NASDAQ:AMBA) Upgraded to “Neutral” at Bank of America

Ambarella (NASDAQ:AMBA) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Monday, MarketBeat reports. The firm currently has a $80.00 target price on the semiconductor company’s stock. Bank of America‘s target price would indicate a potential upside of 10.30% from the company’s current price.

A number of other equities analysts have also recently issued reports on AMBA. Westpark Capital reiterated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. StockNews.com cut Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. TD Cowen boosted their price objective on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Craig Hallum increased their target price on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley boosted their price target on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.17.

Ambarella Stock Down 0.8 %

NASDAQ:AMBA opened at $72.53 on Monday. The firm has a market capitalization of $3.02 billion, a PE ratio of -18.79 and a beta of 1.68. Ambarella has a twelve month low of $39.69 and a twelve month high of $81.32. The stock’s 50-day simple moving average is $62.53 and its 200 day simple moving average is $57.01.

Insider Activity

In related news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.71, for a total transaction of $387,483.78. Following the transaction, the vice president now directly owns 158,686 shares of the company’s stock, valued at approximately $12,014,117.06. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 483 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $25,859.82. Following the transaction, the vice president now directly owns 21,370 shares in the company, valued at $1,144,149.80. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,234 shares of company stock worth $1,233,935 in the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in Ambarella during the 2nd quarter valued at $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 valued at $27,000 after purchasing an additional 321 shares in the last quarter. CWM LLC boosted its holdings in Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares during the last quarter. Signaturefd LLC grew its position in Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 526 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Ambarella by 6,014.3% in the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 842 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

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.