Ambarella (NASDAQ:AMBA) PT Lowered to $70.00 at Susquehanna

Ambarella (NASDAQ:AMBA) had its price target cut by Susquehanna from $80.00 to $70.00 in a report published on Monday, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

AMBA has been the topic of a number of other reports. Roth Mkm reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. TD Cowen increased their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Bank of America increased their target price on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.09.

Ambarella Trading Down 1.0 %

Ambarella stock opened at $57.31 on Monday. The company has a fifty day simple moving average of $55.00 and a 200-day simple moving average of $52.41. The stock has a market cap of $2.35 billion, a P/E ratio of -13.45 and a beta of 1.62. Ambarella has a 12-month low of $39.69 and a 12-month high of $65.88.

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

Insider Transactions at Ambarella

In related news, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $114,522.06. Following the sale, the chief financial officer now directly owns 103,529 shares in the company, valued at $5,542,942.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Alexander Young sold 2,139 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the sale, the chief financial officer now directly owns 103,529 shares in the company, valued at approximately $5,542,942.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,423 shares of company stock valued at $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Several institutional investors and hedge funds have recently modified their holdings of AMBA. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella during the second quarter worth about $26,000. Blue Trust Inc. raised its holdings 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 acquiring an additional 321 shares during the last quarter. CWM LLC lifted its stake in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares during the period. Signaturefd LLC boosted its holdings in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 526 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Ambarella by 62.1% during the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 552 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.