Ambarella (NASDAQ:AMBA) PT Lowered to $70.00

Ambarella (NASDAQ:AMBA) had its price objective reduced by equities researchers at Susquehanna from $80.00 to $70.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective points to a potential upside of 20.15% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Westpark Capital reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Monday, August 26th. Craig Hallum boosted their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Bank of America increased their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.09.

Ambarella Price Performance

Shares of NASDAQ AMBA opened at $58.26 on Monday. Ambarella has a 1 year low of $39.69 and a 1 year high of $65.88. The firm has a market cap of $2.39 billion, a PE ratio of -13.68 and a beta of 1.62. The company has a 50 day simple moving average of $54.05 and a 200 day simple moving average of $52.21.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. Ambarella’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.76) earnings per share. As a group, research analysts anticipate that Ambarella will post -3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares in the company, valued at $3,570,216.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the transaction, the chief executive officer now owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,423 shares of company stock worth $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Azzad Asset Management Inc. ADV lifted its stake in Ambarella by 2.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 231 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ambarella by 6.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock valued at $269,000 after purchasing an additional 285 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Ambarella by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after purchasing an additional 288 shares during the last quarter. CWM LLC grew its position 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 purchasing an additional 304 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

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.