Needham & Company LLC Increases Ambarella (NASDAQ:AMBA) Price Target to $100.00

Ambarella (NASDAQ:AMBA) had its target price raised by Needham & Company LLC from $90.00 to $100.00 in a research report sent to investors on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

AMBA has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley raised their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Northland Securities reissued an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Ambarella in a research note on Wednesday. Finally, Westpark Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Ambarella presently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Stock Up 5.9 %

NASDAQ AMBA opened at $72.44 on Wednesday. The company has a fifty day moving average of $58.23 and a two-hundred day moving average of $54.89. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63. Ambarella has a 52 week low of $39.69 and a 52 week 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 for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Ambarella will post -3 EPS for the current year.

Insider Buying and Selling at Ambarella

In other news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMBA. Azzad Asset Management Inc. ADV boosted its holdings in Ambarella by 2.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 231 shares in the last quarter. Versor Investments LP boosted its stake in Ambarella by 5.9% in the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock worth $261,000 after purchasing an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock worth $269,000 after purchasing an additional 285 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in Ambarella by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after purchasing an additional 288 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

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.