Ambarella (NASDAQ:AMBA) Price Target Cut to $125.00

Ambarella (NASDAQ:AMBAGet Rating) had its price objective lowered by stock analysts at Stifel Nicolaus from $130.00 to $125.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Stifel Nicolaus’ target price would suggest a potential upside of 46.68% from the company’s current price.

Other research analysts have also issued reports about the stock. Needham & Company LLC dropped their price objective on shares of Ambarella from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Tuesday, March 1st. KeyCorp dropped their price objective on shares of Ambarella from $160.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, May 20th. Cowen dropped their price objective on shares of Ambarella from $235.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. Finally, Bank of America lowered their target price on shares of Ambarella from $140.00 to $130.00 and set an “underperform” rating on the stock in a report on Tuesday, March 1st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $151.80.

Shares of NASDAQ:AMBA opened at $85.22 on Wednesday. The company’s fifty day moving average price is $86.41 and its 200 day moving average price is $130.93. Ambarella has a 12 month low of $65.60 and a 12 month high of $227.59. The firm has a market capitalization of $3.25 billion, a P/E ratio of -116.74 and a beta of 1.28.

Ambarella (NASDAQ:AMBAGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $90.31 million for the quarter, compared to analyst estimates of $90.09 million. Ambarella had a negative net margin of 7.96% and a negative return on equity of 4.95%. Ambarella’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) earnings per share. Research analysts anticipate that Ambarella will post -0.54 EPS for the current fiscal year.

In other Ambarella news, COO Chan W. Lee sold 1,595 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $84.42, for a total value of $134,649.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew W. Verhalen acquired 11,455 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was purchased at an average cost of $88.59 per share, with a total value of $1,014,798.45. The disclosure for this purchase can be found here. Insiders sold 176,723 shares of company stock worth $16,280,767 in the last ninety days. Insiders own 6.60% of the company’s stock.

Several large investors have recently bought and sold shares of AMBA. BlackRock Inc. raised its position in shares of Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock valued at $422,620,000 after buying an additional 522,698 shares during the last quarter. Norges Bank acquired a new position in shares of Ambarella in the fourth quarter valued at approximately $84,942,000. Polar Capital Holdings Plc acquired a new position in shares of Ambarella in the third quarter valued at approximately $55,713,000. Renaissance Technologies LLC raised its position in shares of Ambarella by 127.3% in the first quarter. Renaissance Technologies LLC now owns 571,100 shares of the semiconductor company’s stock valued at $59,920,000 after buying an additional 319,900 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Ambarella by 11,075.2% in the fourth quarter. Marshall Wace LLP now owns 309,665 shares of the semiconductor company’s stock valued at $62,828,000 after buying an additional 306,894 shares during the last quarter. 75.28% of the stock is owned by institutional investors and hedge funds.

Ambarella Company Profile (Get Rating)

Ambarella, Inc develops semiconductor solutions for video 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.

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