Ambarella (NASDAQ:AMBA) Price Target Cut to $90.00 by Analysts at Needham & Company LLC

Ambarella (NASDAQ:AMBA) had its price target decreased by investment analysts at Needham & Company LLC from $110.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 74.05% from the stock’s previous close.

Several other research firms have also recently weighed in on AMBA. Rosenblatt Securities upped their target price on Ambarella from $87.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus dropped their price objective on Ambarella from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Wall Street Zen upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Morgan Stanley lowered their target price on Ambarella from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating and eight have given 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 $84.55.

Ambarella Trading Down 16.6%

Shares of NASDAQ:AMBA opened at $51.71 on Friday. The firm has a 50 day moving average of $51.29 and a 200-day moving average of $63.42. Ambarella has a 12 month low of $38.86 and a 12 month high of $85.15. The stock has a market capitalization of $2.19 billion, a PE ratio of -13.40 and a beta of 1.99.

Insider Activity

In other Ambarella news, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total value of $27,750.00. Following the sale, the director now owns 40,281 shares in the company, valued at approximately $2,235,595.50. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Chan W. Lee sold 1,468 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $80,769.36. Following the completion of the sale, the chief operating officer now directly owns 130,297 shares of the company’s stock, valued at approximately $7,168,940.94. The trade was a 1.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,328 shares of company stock valued at $513,467. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Ambarella by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,848,305 shares of the semiconductor company’s stock valued at $244,015,000 after purchasing an additional 152,181 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Ambarella by 7.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock worth $105,628,000 after purchasing an additional 98,841 shares during the period. Millennium Management LLC boosted its stake in shares of Ambarella by 11.5% in the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after purchasing an additional 144,268 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Ambarella by 88.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,232,272 shares of the semiconductor company’s stock worth $62,020,000 after buying an additional 579,917 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Ambarella by 25.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 910,911 shares of the semiconductor company’s stock worth $45,846,000 after buying an additional 185,444 shares during the period. 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.