Analysts Set Ambarella, Inc. (NASDAQ:AMBA) Price Target at $84.55

Ambarella, Inc. (NASDAQ:AMBA) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $84.55.

Several research firms recently weighed in on AMBA. Summit Insights raised shares of Ambarella to a “hold” rating in a research note on Thursday, May 29th. Stifel Nicolaus cut 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. Needham & Company LLC decreased their target price on Ambarella from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Rosenblatt Securities raised their price target on Ambarella from $87.00 to $95.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Morgan Stanley reduced their price objective on Ambarella from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th.

Ambarella Stock Up 1.0%

Shares of Ambarella stock opened at $54.90 on Friday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -14.22 and a beta of 1.99. The stock’s 50-day simple moving average is $51.70 and its 200-day simple moving average is $63.13. Ambarella has a 52 week low of $38.86 and a 52 week high of $85.15.

Insider Activity at Ambarella

In related news, COO Chan W. Lee sold 1,468 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 130,297 shares of the company’s stock, valued at $7,168,940.94. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Leslie Kohn sold 1,584 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total value of $87,151.68. Following the sale, the chief technology officer now directly owns 981,392 shares in the company, valued at $53,996,187.84. This trade represents a 0.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,328 shares of company stock worth $513,467. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Ambarella by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,003 shares of the semiconductor company’s stock valued at $364,000 after buying an additional 236 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Ambarella in the 4th quarter valued at approximately $370,000. Stephens Investment Management Group LLC raised its position in shares of Ambarella by 0.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 503,468 shares of the semiconductor company’s stock valued at $36,622,000 after purchasing an additional 2,432 shares during the last quarter. Stephens Inc. AR acquired a new stake in Ambarella in the 4th quarter worth approximately $255,000. Finally, Van ECK Associates Corp grew its position in Ambarella by 118.1% during the 4th quarter. Van ECK Associates Corp now owns 9,951 shares of the semiconductor company’s stock worth $724,000 after purchasing an additional 5,388 shares during the last quarter. 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.