Needham & Company LLC Forecasts Strong Price Appreciation for Ambarella (NASDAQ:AMBA) Stock

Ambarella (NASDAQ:AMBA) had its price target boosted by equities researchers at Needham & Company LLC from $100.00 to $110.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 45.10% from the stock’s previous close.

Several other equities research analysts also recently weighed in on AMBA. Craig Hallum raised their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Ambarella in a report on Friday, December 6th. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. 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 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 stock. Based on data from MarketBeat, Ambarella currently has an average rating of “Moderate Buy” and a consensus target price of $86.25.

Ambarella Stock Up 3.0 %

Shares of AMBA opened at $75.81 on Thursday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -19.64 and a beta of 1.66. Ambarella has a twelve month low of $39.69 and a twelve month high of $85.15. The company has a 50 day moving average of $76.37 and a two-hundred day moving average of $64.94.

Insider Activity at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the transaction, the chief operating officer now owns 116,918 shares in the company, valued at approximately $9,254,059.70. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Day sold 1,247 shares of the company’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 completion of the transaction, the vice president now owns 14,530 shares of the company’s stock, valued at approximately $1,134,793. This trade represents a 7.90 % 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 over the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Ambarella by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock worth $341,596,000 after purchasing an additional 81,557 shares in the last quarter. State Street Corp increased its stake in shares of Ambarella by 2.6% during the third quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock worth $108,536,000 after purchasing an additional 47,856 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Ambarella by 7.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock worth $105,628,000 after purchasing an additional 98,841 shares in the last quarter. Millennium Management LLC grew its stake in Ambarella by 11.5% during the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after acquiring an additional 144,268 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Ambarella by 4.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after acquiring an additional 61,387 shares in the last quarter. Institutional investors and hedge funds 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.