Ambarella, Inc. (NASDAQ:AMBA) Stock Has Consensus Price Target of $89.56

Shares of Ambarella, Inc. (NASDAQ:AMBA) have earned an average recommendation of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $89.56.

A number of analysts recently issued reports on AMBA shares. Needham & Company LLC restated a “buy” rating on shares of Ambarella in a research report on Friday, September 4th. Craig Hallum downgraded shares of Ambarella from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Friday, September 4th. Bank of America lowered their target price on shares of Ambarella from $96.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, September 4th. Northland Securities set a $101.00 price target on shares of Ambarella in a research note on Wednesday, June 17th. Finally, Roth Capital dropped their price target on shares of Ambarella from $90.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, September 4th.

Insiders Place Their Bets

In other Ambarella news, VP Yun-Lung Chen sold 5,958 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $78.66, for a total transaction of $468,656.28. Following the completion of the transaction, the vice president owned 60,557 shares in the company, valued at $4,763,413.62. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chan Lee sold 2,893 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $64.83, for a total value of $187,553.19. Following the transaction, the insider directly owned 154,443 shares in the company, valued at approximately $10,012,539.69. This represents a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,468 shares of company stock valued at $3,881,120 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently bought and sold shares of the business. Main Management ETF Advisors LLC grew its holdings in Ambarella by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the semiconductor company’s stock worth $1,220,000 after acquiring an additional 176 shares in the last quarter. Essential Partners LLC raised its holdings in shares of Ambarella by 90.1% in the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Ambarella by 1.7% in the 1st quarter. Lazard Asset Management LLC now owns 14,069 shares of the semiconductor company’s stock valued at $724,000 after purchasing an additional 234 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Ambarella by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 11,479 shares of the semiconductor company’s stock worth $985,000 after purchasing an additional 246 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Ambarella by 60.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 252 shares during the period. Institutional investors own 82.09% of the company’s stock.

Ambarella Price Performance

Shares of AMBA stock opened at $68.68 on Friday. Ambarella has a 1 year low of $48.30 and a 1 year high of $96.69. The stock’s 50 day simple moving average is $72.04 and its two-hundred day simple moving average is $68.73. The company has a market cap of $3.03 billion, a PE ratio of -53.24 and a beta of 2.09.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $108.12 million during the quarter, compared to analyst estimates of $107.76 million. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. Equities research analysts expect that Ambarella will post -1.12 EPS for the current year.

Ambarella Company Profile

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company’s product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.