Ambarella (NASDAQ:AMBA) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Ambarella (NASDAQ:AMBA) from a hold rating to a sell rating in a research report report published on Tuesday.

Several other equities analysts also recently weighed in on the company. Bank of America lifted their target price on Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Westpark Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Susquehanna raised their price target on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday, November 27th. Finally, Craig Hallum upped 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $82.92.

Ambarella Stock Down 3.3 %

AMBA opened at $72.22 on Tuesday. Ambarella has a 52 week low of $39.69 and a 52 week high of $81.32. The business has a fifty day simple moving average of $61.57 and a 200-day simple moving average of $56.52. The firm has a market cap of $2.98 billion, a P/E ratio of -18.71 and a beta of 1.68.

Insiders Place Their Bets

In other Ambarella news, COO Chan W. Lee sold 1,490 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $79,774.60. Following the completion of the transaction, the chief operating officer now owns 121,406 shares in the company, valued at $6,500,077.24. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now owns 158,686 shares in the company, valued at $12,014,117.06. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,474 shares of company stock valued at $1,246,694 in the last ninety days. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after acquiring an additional 22,144 shares during the period. Mirabella Financial Services LLP purchased a new position in Ambarella during the 3rd quarter worth $1,530,000. SWS Partners increased its stake in Ambarella by 25.3% in the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after purchasing an additional 16,049 shares during the period. Millennium Management LLC raised its holdings in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after buying an additional 842 shares during the period. Hedge funds and other 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.