Ambarella (NASDAQ:AMBA) Shares Gap Up on Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA)’s share price gapped up prior to trading on Thursday after Stifel Nicolaus raised their price target on the stock from $95.00 to $100.00. The stock had previously closed at $75.81, but opened at $81.11. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $70.11, with a volume of 730,333 shares.

Several other brokerages have also issued reports on AMBA. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Ambarella in a research report on Thursday. Morgan Stanley raised their price objective on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Susquehanna boosted their target price on shares of Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday, December 16th. 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. According to MarketBeat, Ambarella presently has an average rating of “Moderate Buy” and an average price target of $86.67.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $75.71, for a total transaction of $387,483.78. Following the sale, the vice president now directly owns 158,686 shares in the company, valued at $12,014,117.06. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Chan W. Lee sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $75.90, for a total transaction of $75,900.00. Following the completion of the sale, the chief operating officer now directly owns 110,918 shares in the company, valued at approximately $8,418,676.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,861 shares of company stock worth $1,945,436 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp grew its position in shares of Ambarella by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock valued at $466,000 after purchasing an additional 201 shares in the last quarter. Castleark Management LLC bought a new stake in Ambarella during the fourth quarter valued at $2,325,000. Woodline Partners LP grew its position in Ambarella by 2,367.1% during the fourth quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock worth $19,155,000 after buying an additional 252,659 shares in the last quarter. Tidal Investments LLC purchased a new position in Ambarella during the fourth quarter worth about $444,000. Finally, Sender Co & Partners Inc. increased its stake in Ambarella by 49.6% in the 4th quarter. Sender Co & Partners Inc. now owns 12,752 shares of the semiconductor company’s stock worth $928,000 after acquiring an additional 4,230 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Trading Down 17.0 %

The stock has a market cap of $2.62 billion, a PE ratio of -16.30 and a beta of 1.66. The firm has a fifty day simple moving average of $76.37 and a two-hundred day simple moving average of $64.94.

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.