Brokerages Set Ambarella, Inc. (NASDAQ:AMBA) PT at $101.12

Ambarella, Inc. (NASDAQ:AMBA) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $101.1250.

AMBA has been the subject of a number of research analyst reports. Susquehanna boosted their target price on shares of Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, May 29th. Weiss Ratings raised Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Northland Securities set a $101.00 price target on Ambarella in a research report on Wednesday, June 17th. Bank of America raised their price objective on shares of Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Stifel Nicolaus set a $106.00 target price on shares of Ambarella in a research note on Friday, May 29th.

Ambarella Stock Down 2.3%

Shares of AMBA opened at $61.84 on Monday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -38.41 and a beta of 2.11. The company’s fifty day moving average is $74.58 and its 200-day moving average is $66.56. 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, May 28th. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $100.36 million for the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, research analysts predict that Ambarella will post -1.13 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In other news, CFO John Alexander Young sold 5,033 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $67.54, for a total transaction of $339,928.82. Following the completion of the transaction, the chief financial officer directly owned 112,590 shares of the company’s stock, valued at approximately $7,604,328.60. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Yun-Lung Chen sold 9,856 shares of Ambarella stock in a transaction on Friday, June 12th. The shares were sold at an average price of $67.06, for a total value of $660,943.36. Following the transaction, the vice president directly owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. The trade was a 12.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 93,390 shares of company stock worth $7,709,960. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. bought a new stake in shares of Ambarella in the 2nd quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ambarella during the second quarter worth $34,000. Advisory Services Network LLC bought a new stake in shares of Ambarella in the third quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its position in Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares during the last quarter. Finally, Essential Partners LLC grew its stake in shares of Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.