Ambarella (NASDAQ:AMBA) Hits New 52-Week High – What’s Next?

Ambarella, Inc. (NASDAQ:AMBA)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $81.75 and last traded at $83.32, with a volume of 3566 shares traded. The stock had previously closed at $80.79.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMBA. Stifel Nicolaus raised their price target on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Craig Hallum lifted their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Susquehanna upped their price target on Ambarella from $70.00 to $85.00 and gave the stock a “positive” rating in a research report on Wednesday, November 27th. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC raised their price objective on Ambarella from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Ambarella has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Ambarella Price Performance

The company has a market cap of $3.47 billion, a P/E ratio of -21.53 and a beta of 1.66. The business has a 50-day moving average of $70.96 and a two-hundred day moving average of $60.51.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 1,247 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $78.10, for a total transaction of $97,390.70. Following the sale, the vice president now directly owns 14,530 shares of the company’s stock, valued at $1,134,793. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $75.90, for a total value of $75,900.00. Following the completion of the sale, the chief operating officer now owns 110,918 shares in the company, valued at approximately $8,418,676.20. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock valued at $1,945,436 over the last 90 days. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heritage Family Offices LLP acquired a new position in shares of Ambarella during the 4th quarter worth approximately $213,000. FNY Investment Advisers LLC lifted its holdings in Ambarella by 52.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,248 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 770 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Ambarella during the 3rd quarter worth $3,905,000. Geode Capital Management LLC grew its holdings in shares of Ambarella by 1.6% during the third quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after buying an additional 14,568 shares in the last quarter. Finally, Sender Co & Partners Inc. acquired a new stake in shares of Ambarella in the third quarter valued at about $481,000. 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.