Brokerages Set Ambarella, Inc. (NASDAQ:AMBA) PT at $71.08

Ambarella, Inc. (NASDAQ:AMBA) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $71.08.

Several analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a report on Tuesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Ambarella in a report on Wednesday, February 28th. StockNews.com raised shares of Ambarella to a “sell” rating in a report on Friday, April 26th. Susquehanna raised their target price on shares of Ambarella from $70.00 to $80.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, Morgan Stanley raised their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th.

Insiders Place Their Bets

In other Ambarella news, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $107,063.71. Following the sale, the chief executive officer now owns 806,632 shares of the company’s stock, valued at $39,742,758.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Leslie Kohn sold 1,198 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $59,025.46. Following the transaction, the chief technology officer now directly owns 964,664 shares in the company, valued at $47,528,995.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $107,063.71. Following the transaction, the chief executive officer now owns 806,632 shares in the company, valued at $39,742,758.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,648 shares of company stock valued at $327,595. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Ambarella by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 4,092,534 shares of the semiconductor company’s stock worth $250,831,000 after acquiring an additional 69,864 shares during the last quarter. Kodai Capital Management LP purchased a new position in shares of Ambarella during the fourth quarter worth approximately $65,543,000. Dimensional Fund Advisors LP grew its position in Ambarella by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after buying an additional 29,379 shares during the last quarter. Rokos Capital Management LLP grew its position in Ambarella by 121.0% in the 3rd quarter. Rokos Capital Management LLP now owns 649,574 shares of the semiconductor company’s stock valued at $34,626,000 after buying an additional 355,689 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Ambarella by 24.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 533,964 shares of the semiconductor company’s stock valued at $32,727,000 after buying an additional 104,072 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Ambarella Stock Performance

Shares of AMBA opened at $46.26 on Friday. The stock has a market capitalization of $1.89 billion, a PE ratio of -10.91 and a beta of 1.65. Ambarella has a 1 year low of $40.31 and a 1 year high of $89.18. The company’s 50-day simple moving average is $48.99 and its 200-day simple moving average is $53.15.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.03. The business had revenue of $51.62 million for the quarter, compared to analysts’ expectations of $51.68 million. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. On average, sell-side analysts predict that Ambarella will post -3.53 earnings per share for the current year.

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.