Ambarella (NASDAQ:AMBA) Upgraded by Bank of America to Neutral Rating

Bank of America upgraded shares of Ambarella (NASDAQ:AMBA) from an underperform rating to a neutral rating in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has $80.00 price objective on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. TD Cowen upped their price objective on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Morgan Stanley increased their price target on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Northland Securities reiterated an “outperform” rating and issued a $95.00 target price (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Finally, Craig Hallum raised their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.17.

Ambarella Trading Up 5.1 %

Ambarella stock opened at $76.22 on Monday. The stock has a market cap of $3.18 billion, a PE ratio of -19.75 and a beta of 1.68. The stock has a 50-day moving average price of $62.53 and a 200 day moving average price of $57.01. Ambarella has a 52 week low of $39.69 and a 52 week high of $81.32.

Insider Activity

In other Ambarella news, Director Hsiao-Wuen Hon sold 377 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.15, for a total value of $27,954.55. Following the transaction, the director now directly owns 28,278 shares of the company’s stock, valued at $2,096,813.70. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the transaction, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,590 shares of company stock valued at $725,366 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella during the second quarter valued at approximately $26,000. Blue Trust Inc. grew its holdings in Ambarella by 180.3% during the 3rd 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 lifted its holdings in Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares in the last quarter. Signaturefd LLC boosted its position in Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 526 shares during the last quarter. Finally, Larson Financial Group LLC grew 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 valued at $48,000 after acquiring an additional 842 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.