Ambarella, Inc. (NASDAQ:AMBA) Stock Has Consensus Price Target of $89.56 According to Analysts

Shares of Ambarella, Inc. (NASDAQ:AMBA) have been given an average recommendation of “Hold” by the twelve ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $89.56.

Several brokerages have recently weighed in on AMBA. Weiss Ratings raised Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Oppenheimer reaffirmed a “market perform” rating on shares of Ambarella in a report on Friday, September 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price target on shares of Ambarella in a research note on Wednesday, September 16th. Roth Capital dropped their price target on shares of Ambarella from $90.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, September 4th. Finally, Bank of America cut their price objective on shares of Ambarella from $96.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, September 4th.

Ambarella Trading Up 1.1%

Ambarella stock opened at $69.51 on Friday. The company has a fifty day simple moving average of $72.00 and a 200-day simple moving average of $68.95. The stock has a market cap of $3.07 billion, a P/E ratio of -53.88 and a beta of 2.09. Ambarella has a 12-month low of $48.30 and a 12-month high of $96.69.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.The firm had revenue of $108.12 million for the quarter, compared to analyst estimates of $107.76 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Ambarella’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Ambarella will post -1.12 earnings per share for the current fiscal year.

Insider Transactions at Ambarella

In other Ambarella news, VP Yun-Lung Chen sold 5,958 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $78.66, for a total value of $468,656.28. Following the completion of the transaction, the vice president owned 60,557 shares in the company, valued at $4,763,413.62. This represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chan W. Lee sold 2,893 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $64.83, for a total value of $187,553.19. Following the transaction, the insider directly owned 154,443 shares in the company, valued at approximately $10,012,539.69. The trade was a 1.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,218 shares of company stock worth $1,528,920. Insiders own 4.50% of the company’s stock.

Institutional Trading of Ambarella

A number of large investors have recently made changes to their positions in AMBA. Financial Management Professionals Inc. acquired a new position in Ambarella during the second quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Ambarella during the second quarter worth approximately $34,000. Essential Partners LLC grew its position in shares of Ambarella by 90.1% during the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Ambarella in the 1st quarter valued at $30,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Ambarella by 60.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 668 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 252 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company’s product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.