Ambarella (NASDAQ:AMBA) Price Target Cut to $50.00

Ambarella (NASDAQ:AMBA) had its target price decreased by Bank of America from $62.00 to $50.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Bank of America currently has an underperform rating on the semiconductor company’s stock.

AMBA has been the topic of several other research reports. Morgan Stanley lifted their price objective on Ambarella from $67.00 to $73.00 and gave the company an overweight rating in a report on Wednesday, February 28th. Wells Fargo & Company lowered Ambarella from an overweight rating to an equal weight rating and dropped their target price for the company from $85.00 to $65.00 in a research report on Wednesday, January 3rd. Needham & Company LLC reissued a buy rating and issued a $90.00 target price on shares of Ambarella in a research report on Wednesday, February 28th. Susquehanna lifted their target price on Ambarella from $70.00 to $80.00 and gave the company a positive rating in a research report on Wednesday, February 28th. Finally, StockNews.com raised Ambarella to a sell rating in a research report on Saturday, April 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $71.08.

Ambarella Trading Down 3.4 %

Shares of AMBA opened at $40.99 on Tuesday. Ambarella has a 1 year low of $40.76 and a 1 year high of $89.18. The stock has a market cap of $1.68 billion, a P/E ratio of -10.01 and a beta of 1.66. The stock’s 50-day moving average price is $51.90 and its two-hundred day moving average price is $53.94.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.03. Ambarella had a negative return on equity of 23.78% and a negative net margin of 74.81%. The business had revenue of $51.62 million for the quarter, compared to analysts’ expectations of $51.68 million. As a group, equities analysts forecast that Ambarella will post -3.53 EPS for the current year.

Insiders Place Their Bets

In other Ambarella news, COO Chan W. Lee sold 1,075 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the transaction, the chief operating officer now owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Chan W. Lee sold 1,075 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $52,965.25. Following the transaction, the chief operating officer now directly owns 124,146 shares of the company’s stock, valued at approximately $6,116,673.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Leslie Kohn sold 1,198 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $59,025.46. Following the transaction, the chief technology officer now directly owns 964,664 shares in the company, valued at $47,528,995.28. The disclosure for this sale can be found here. Insiders have sold 6,648 shares of company stock valued at $327,595 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LM Advisors LLC acquired a new position in shares of Ambarella during the 4th quarter worth approximately $25,000. Creative Planning acquired a new position in shares of Ambarella during the 3rd quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new stake in Ambarella in the 3rd quarter valued at $51,000. Stephens Inc. AR boosted its stake in Ambarella by 73.0% in the 1st quarter. Stephens Inc. AR now owns 1,095 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 462 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Ambarella in the 3rd quarter valued at $66,000. 82.09% of the stock is owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.