Ambarella (NASDAQ:AMBA) Shares Gap Up After Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA) gapped up before the market opened on Thursday after Stifel Nicolaus raised their price target on the stock from $95.00 to $100.00. The stock had previously closed at $75.81, but opened at $81.11. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $70.11, with a volume of 730,333 shares.

Several other analysts also recently issued reports on AMBA. Susquehanna upped their price objective on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Morgan Stanley increased their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Ambarella in a report on Thursday. Finally, Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.67.

Insider Buying and Selling

In related news, CTO Leslie Kohn sold 1,757 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $132,495.37. Following the completion of the sale, the chief technology officer now owns 959,676 shares in the company, valued at $72,369,167.16. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 1,278 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the sale, the vice president now directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. This represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock worth $1,945,436 in the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ambarella

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Ambarella by 68.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 184 shares during the last quarter. Signaturefd LLC grew its holdings in Ambarella by 389.6% during the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Ambarella during the 4th quarter worth about $37,000. Finally, Sterling Capital Management LLC grew its holdings in Ambarella by 629.3% during the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 516 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Trading Down 6.4 %

The business’s fifty day simple moving average is $76.37 and its 200 day simple moving average is $64.94. The stock has a market cap of $2.96 billion, a P/E ratio of -18.39 and a beta of 1.66.

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.