Ambarella, Inc. (NASDAQ:AMBA) Receives $96.00 Average Price Target from Brokerages

Ambarella, Inc. (NASDAQ:AMBA) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $96.00.

Several brokerages have weighed in on AMBA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ambarella in a research report on Wednesday, January 21st. Stifel Nicolaus restated a “buy” rating and issued a $100.00 target price (up from $90.00) on shares of Ambarella in a report on Wednesday, November 26th. Rosenblatt Securities lifted their target price on shares of Ambarella from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Ambarella in a report on Wednesday, November 26th. Finally, Roth Mkm reissued a “neutral” rating on shares of Ambarella in a research report on Wednesday, November 26th.

Insider Activity

In related news, CFO John Alexander Young sold 3,791 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $72.96, for a total transaction of $276,591.36. Following the transaction, the chief financial officer owned 102,738 shares in the company, valued at $7,495,764.48. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $72.18, for a total value of $36,090.00. Following the transaction, the director directly owned 41,279 shares of the company’s stock, valued at $2,979,518.22. The trade was a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 77,061 shares of company stock valued at $5,011,433. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ambarella

A number of large investors have recently made changes to their positions in AMBA. Price T Rowe Associates Inc. MD increased its stake in shares of Ambarella by 2,312.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 864,610 shares of the semiconductor company’s stock valued at $61,250,000 after buying an additional 828,773 shares during the period. UBS Group AG lifted its stake in Ambarella by 379.3% in the third quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock worth $67,811,000 after acquiring an additional 650,306 shares during the period. Squarepoint Ops LLC bought a new stake in Ambarella in the second quarter valued at $36,810,000. Barclays PLC boosted its holdings in Ambarella by 121.7% in the third quarter. Barclays PLC now owns 775,113 shares of the semiconductor company’s stock valued at $63,962,000 after acquiring an additional 425,546 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Ambarella by 894.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 459,562 shares of the semiconductor company’s stock valued at $30,361,000 after purchasing an additional 413,362 shares during the period. 82.09% of the stock is currently owned by institutional investors.

Ambarella Trading Up 0.2%

AMBA opened at $52.39 on Tuesday. Ambarella has a 12 month low of $38.86 and a 12 month high of $96.69. The business’s 50-day moving average price is $64.07 and its 200-day moving average price is $74.97. The company has a market cap of $2.26 billion, a P/E ratio of -29.43 and a beta of 1.95.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. Ambarella had a negative return on equity of 12.24% and a negative net margin of 19.42%.The company had revenue of $100.87 million during the quarter, compared to analysts’ expectations of $100.17 million. During the same period in the prior year, the business posted $0.11 EPS. Ambarella’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities research analysts forecast that Ambarella will post -2.81 earnings per share for the current fiscal year.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.