Ambarella (NASDAQ:AMBA) Given New $110.00 Price Target at Wells Fargo & Company

Ambarella (NASDAQ:AMBAGet Rating) had its price objective cut by equities researchers at Wells Fargo & Company from $125.00 to $110.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Wells Fargo & Company‘s price objective suggests a potential upside of 29.08% from the company’s previous close.

Several other research firms also recently commented on AMBA. Cowen reduced their price objective on Ambarella from $235.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. Bank of America dropped their target price on Ambarella from $140.00 to $130.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 1st. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 target price on shares of Ambarella in a research report on Monday, April 4th. Rosenblatt Securities dropped their target price on Ambarella from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Finally, Needham & Company LLC dropped their target price on Ambarella from $225.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Ambarella has an average rating of “Buy” and a consensus price target of $158.13.

Ambarella stock opened at $85.22 on Wednesday. Ambarella has a fifty-two week low of $65.60 and a fifty-two week high of $227.59. The company has a market capitalization of $3.25 billion, a P/E ratio of -116.74 and a beta of 1.28. The stock has a 50-day simple moving average of $86.41 and a 200-day simple moving average of $130.93.

Ambarella (NASDAQ:AMBAGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The firm had revenue of $90.31 million during the quarter, compared to the consensus estimate of $90.09 million. Ambarella had a negative return on equity of 4.95% and a negative net margin of 7.96%. The firm’s revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.29) EPS. Sell-side analysts forecast that Ambarella will post -0.54 earnings per share for the current year.

In other Ambarella news, CEO Feng-Ming Wang sold 46,908 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $91.20, for a total transaction of $4,278,009.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Yun-Lung Chen sold 19,241 shares of the stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $96.92, for a total value of $1,864,837.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,723 shares of company stock worth $16,280,767. Insiders own 6.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. First National Bank of Omaha lifted its stake in shares of Ambarella by 116.4% during the 1st quarter. First National Bank of Omaha now owns 23,129 shares of the semiconductor company’s stock worth $2,427,000 after purchasing an additional 12,441 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Ambarella by 63.4% during the 1st quarter. Neuberger Berman Group LLC now owns 194,076 shares of the semiconductor company’s stock worth $20,381,000 after purchasing an additional 75,315 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Ambarella by 31.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 31,837 shares of the semiconductor company’s stock worth $3,340,000 after purchasing an additional 7,693 shares during the period. MUFG Securities EMEA plc lifted its stake in shares of Ambarella by 551.0% during the 1st quarter. MUFG Securities EMEA plc now owns 4,199 shares of the semiconductor company’s stock worth $441,000 after purchasing an additional 3,554 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Ambarella by 15.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,383 shares of the semiconductor company’s stock worth $250,000 after purchasing an additional 324 shares during the period. 75.28% of the stock is currently owned by institutional investors.

About Ambarella (Get Rating)

Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.

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