Ambarella Inc. (NASDAQ:AMBA)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a report released on Monday. They currently have a $84.00 target price on the stock, down from their previous target price of $86.00. Stifel Nicolaus’ target price would indicate a potential upside of 36.83% from the company’s previous close.

Several other brokerages also recently weighed in on AMBA. Canaccord Genuity lifted their target price on shares of Ambarella from $85.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, August 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, September 2nd. Pacific Crest reaffirmed a “buy” rating on shares of Ambarella in a report on Friday, September 2nd. Morgan Stanley reaffirmed a “buy” rating and issued a $78.00 target price on shares of Ambarella in a report on Friday, September 2nd. Finally, Vetr raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $74.39 target price on the stock in a report on Thursday, October 6th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Ambarella presently has a consensus rating of “Buy” and a consensus price target of $69.31.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

Shares of Ambarella (NASDAQ:AMBA) opened at 61.39 on Monday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 46.23 and a beta of 1.58. Ambarella has a 1-year low of $33.39 and a 1-year high of $74.95. The stock’s 50 day moving average is $61.64 and its 200 day moving average is $58.67.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Thursday, December 1st. The company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.17. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The firm had revenue of $100.50 million for the quarter, compared to analyst estimates of $97.30 million. Ambarella’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. On average, equities analysts forecast that Ambarella will post $2.61 EPS for the current year.

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In other news, CFO George Laplante sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $67.08, for a total value of $2,012,400.00. Following the completion of the transaction, the chief financial officer now directly owns 118,720 shares in the company, valued at $7,963,737.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $69.13, for a total transaction of $69,130.00. Following the completion of the transaction, the director now owns 10,014 shares of the company’s stock, valued at $692,267.82. The disclosure for this sale can be found here. Company insiders own 5.43% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AMBA. BlackRock Fund Advisors increased its position in shares of Ambarella by 7.6% in the third quarter. BlackRock Fund Advisors now owns 815,936 shares of the company’s stock valued at $60,061,000 after buying an additional 57,568 shares during the period. Van Berkom & Associates Inc. purchased a new position in shares of Ambarella during the second quarter valued at $36,083,000. Morgan Stanley increased its position in shares of Ambarella by 27.0% in the third quarter. Morgan Stanley now owns 572,787 shares of the company’s stock valued at $42,164,000 after buying an additional 121,695 shares during the period. State Street Corp increased its position in shares of Ambarella by 0.4% in the second quarter. State Street Corp now owns 497,409 shares of the company’s stock valued at $25,272,000 after buying an additional 1,935 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Ambarella during the second quarter valued at $18,516,000. Institutional investors and hedge funds own 58.80% of the company’s stock.

About Ambarella

Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.

5 Day Chart for NASDAQ:AMBA

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