Ambarella (NASDAQ:AMBA) Price Target Raised to $85.00 at Susquehanna

Ambarella (NASDAQ:AMBA) had its price objective lifted by research analysts at Susquehanna from $70.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective would indicate a potential upside of 17.34% from the company’s current price.

Several other equities research analysts also recently weighed in on AMBA. Northland Securities reaffirmed 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Friday, August 23rd. Stifel Nicolaus lifted their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Finally, Morgan Stanley upped their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $81.67.

Ambarella Trading Up 5.9 %

Shares of AMBA stock opened at $72.44 on Wednesday. Ambarella has a twelve month low of $39.69 and a twelve month high of $81.32. The company has a market capitalization of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63. The business’s 50 day moving average is $58.93 and its two-hundred day moving average is $55.13.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned ($0.76) EPS. As a group, equities analysts predict that Ambarella will post -3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction 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 represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock valued at $51,719,000 after acquiring an additional 14,568 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in Ambarella in the third quarter worth $481,000. Barclays PLC increased its holdings in shares of Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after acquiring an additional 286,296 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Ambarella by 8.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 12,573 shares of the semiconductor company’s stock worth $709,000 after acquiring an additional 1,002 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Ambarella during the third quarter worth $843,000. 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.