Needham & Company LLC Forecasts Strong Price Appreciation for Ambarella (NASDAQ:AMBA) Stock

Ambarella (NASDAQ:AMBA) had its target price increased by research analysts at Needham & Company LLC from $100.00 to $110.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 79.07% from the company’s current price.

Several other equities analysts also recently weighed in on AMBA. Northland Securities restated an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Susquehanna raised their target price on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Craig Hallum lifted their price objective on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Monday, December 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Price Performance

NASDAQ AMBA opened at $61.43 on Thursday. The company has a market cap of $2.56 billion, a PE ratio of -15.91 and a beta of 1.66. The stock’s 50 day simple moving average is $76.26 and its 200-day simple moving average is $64.93. Ambarella has a 1-year low of $39.69 and a 1-year high of $85.15.

Insider Buying and Selling at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of Ambarella stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $75.90, for a total value of $75,900.00. Following the sale, the chief operating officer now owns 110,918 shares in the company, valued at $8,418,676.20. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 1,247 shares of Ambarella stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $78.10, for a total value of $97,390.70. Following the completion of the sale, the vice president now owns 14,530 shares in the company, valued at $1,134,793. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,861 shares of company stock worth $1,945,436 over the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Ambarella by 180.3% in 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 in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Ambarella by 68.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 184 shares in the last quarter. Signaturefd LLC grew its stake 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 buying an additional 526 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ambarella in the fourth quarter valued at $37,000. Finally, Sterling Capital Management LLC grew its stake in shares of Ambarella by 629.3% in the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 516 shares in the last quarter. 82.09% of the stock is 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.