Brokerages Set Ambarella, Inc. (NASDAQ:AMBA) Price Target at $96.02

Ambarella, Inc. (NASDAQ:AMBA – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $96.02.

AMBA has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Ambarella in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Westpark Capital began coverage on Ambarella in a research note on Wednesday, March 22nd. They set a “buy” rating for the company. Roth Capital lowered Ambarella from a “buy” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research note on Wednesday, March 1st. Wells Fargo & Company upped their price objective on Ambarella from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research report on Wednesday, March 1st.

Insider Activity

In related news, CEO Feng-Ming Wang sold 16,644 shares of Ambarella stock in a transaction on Friday, March 17th. The shares were sold at an average price of $76.85, for a total transaction of $1,279,091.40. Following the completion of the transaction, the chief executive officer now owns 718,152 shares of the company’s stock, valued at $55,189,981.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Feng-Ming Wang sold 16,644 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $76.85, for a total transaction of $1,279,091.40. Following the completion of the sale, the chief executive officer now owns 718,152 shares of the company’s stock, valued at $55,189,981.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Day sold 3,675 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $69.24, for a total transaction of $254,457.00. Following the sale, the vice president now directly owns 18,117 shares of the company’s stock, valued at approximately $1,254,421.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,186 shares of company stock valued at $4,298,470. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambarella

Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in Ambarella in the 1st quarter valued at about $27,000. CWM LLC raised its position in shares of Ambarella by 101.9% during the third quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 327 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Ambarella by 609.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,050 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 902 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Ambarella by 24.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 939 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 184 shares during the period. Finally, Belpointe Asset Management LLC bought a new stake in Ambarella during the 4th quarter valued at $77,000. Institutional investors and hedge funds own 78.33% of the company’s stock.

Ambarella Trading Up 2.5 %

Shares of AMBA stock opened at $74.19 on Friday. The stock has a 50 day simple moving average of $70.49 and a 200 day simple moving average of $77.74. Ambarella has a 1 year low of $49.02 and a 1 year high of $99.86. The stock has a market cap of $2.94 billion, a P/E ratio of -43.39 and a beta of 1.50.

Ambarella (NASDAQ:AMBA – Get Rating) last released its earnings results on Tuesday, February 28th. The semiconductor company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.24. Ambarella had a negative return on equity of 8.84% and a negative net margin of 19.37%. The firm had revenue of $83.32 million during the quarter, compared to the consensus estimate of $83.04 million. Analysts forecast that Ambarella will post -2.84 EPS for the current year.

Ambarella Company Profile

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Ambarella, Inc engages in the development of low-power system-on-a-chip, or SoC, semiconductors and software for edge artificial intelligence, or AI, applications. Its products include video security, advanced driver assistance (ADAS), electronic mirror, drive recorder, driver or cabin monitoring, autonomous driving, and other robotics applications.