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

Shares of Ambarella, Inc. (NASDAQ:AMBA) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat Ratings 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $89.56.

AMBA has been the subject of several recent analyst reports. Roth Capital decreased their price objective on shares of Ambarella from $90.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 4th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 target price on shares of Ambarella in a report on Wednesday, September 16th. Stifel Nicolaus lowered their price objective on shares of Ambarella from $106.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. Oppenheimer reaffirmed a “market perform” rating on shares of Ambarella in a research report on Friday, September 4th. Finally, Bank of America cut their price target 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 Price Performance

NASDAQ AMBA opened at $66.50 on Wednesday. Ambarella has a 12 month low of $48.30 and a 12 month high of $96.69. The company has a 50-day moving average of $67.46 and a 200-day moving average of $70.48. The company has a market cap of $2.94 billion, a P/E ratio of -51.55 and a beta of 2.38.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. The business had revenue of $108.12 million for the quarter, compared to analysts’ expectations of $107.76 million. During the same period last year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts anticipate that Ambarella will post -1.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John Young sold 3,126 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $64.83, for a total value of $202,658.58. Following the sale, the chief financial officer owned 109,702 shares in the company, valued at approximately $7,111,980.66. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Feng-Ming Wang sold 6,086 shares of the firm’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $64.83, for a total transaction of $394,555.38. Following the completion of the sale, the chief executive officer owned 767,759 shares in the company, valued at approximately $49,773,815.97. The trade was a 0.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,260 shares of company stock worth $1,060,264 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ambarella

Several large investors have recently bought and sold shares of AMBA. Financial Management Professionals Inc. bought a new stake in shares of Ambarella in the second quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Ambarella in the 2nd quarter valued at approximately $34,000. Essential Partners LLC lifted its position in shares of Ambarella by 90.1% in 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 during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ambarella in the 1st quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 worth $34,000 after acquiring an additional 252 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc (NASDAQ:AMBA) is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing, computer vision and artificial intelligence at the edge. Its technologies are designed to process and analyze visual data locally in devices, reducing the need to transmit data to centralized cloud systems.

The company’s product portfolio includes video-processing SoCs and its CVflow family of artificial intelligence processors. These products support applications such as security cameras, automotive cameras and advanced driver-assistance systems, robotics, industrial automation, consumer devices and other intelligent imaging systems.