Ambarella (NASDAQ:AMBA) Price Target Lowered to $78.00 at Stifel Nicolaus

Ambarella (NASDAQ:AMBA) had its price target decreased by Stifel Nicolaus from $95.00 to $78.00 in a research note published on Wednesday morning, FlyOnTheWall reports.

Several other analysts also recently issued reports on AMBA. Susquehanna lifted their price target on shares of Ambarella from $85.00 to $92.00 and gave the company a positive rating in a research report on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Ambarella from $75.00 to $65.00 in a research note on Wednesday. Bank of America dropped their price objective on Ambarella from $75.00 to $70.00 in a research note on Thursday, June 1st. Rosenblatt Securities reissued a buy rating and issued a $95.00 price target on shares of Ambarella in a report on Wednesday, August 23rd. Finally, Craig Hallum cut their price target on shares of Ambarella from $110.00 to $95.00 in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $87.00.

Ambarella Stock Down 20.4 %

Shares of AMBA stock opened at $60.34 on Wednesday. The firm has a 50 day moving average of $77.57 and a 200-day moving average of $76.97. Ambarella has a 52 week low of $49.02 and a 52 week high of $99.86. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -25.90 and a beta of 1.50.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 29th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.06. Ambarella had a negative net margin of 29.24% and a negative return on equity of 12.71%. The business had revenue of $62.10 million during the quarter, compared to the consensus estimate of $62.02 million. During the same quarter last year, the firm posted ($0.51) EPS. Ambarella’s revenue was down 23.2% compared to the same quarter last year. Analysts anticipate that Ambarella will post -3.23 earnings per share for the current year.

Insider Activity

In other news, CFO Brian C. White sold 3,297 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $84.80, for a total transaction of $279,585.60. Following the sale, the chief financial officer now directly owns 80,771 shares in the company, valued at $6,849,380.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Christopher Day sold 354 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $84.80, for a total value of $30,019.20. Following the transaction, the vice president now directly owns 18,817 shares in the company, valued at $1,595,681.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian C. White sold 3,297 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $84.80, for a total transaction of $279,585.60. Following the completion of the transaction, the chief financial officer now owns 80,771 shares in the company, valued at $6,849,380.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,873 shares of company stock worth $2,781,204 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. White Pine Capital LLC grew its position in Ambarella by 1.4% during the fourth quarter. White Pine Capital LLC now owns 7,669 shares of the semiconductor company’s stock valued at $631,000 after acquiring an additional 107 shares during the last quarter. Prudential Financial Inc. grew its position in Ambarella by 4.9% during the second quarter. Prudential Financial Inc. now owns 3,406 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 159 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Ambarella by 5.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,473 shares of the semiconductor company’s stock valued at $269,000 after acquiring an additional 175 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Ambarella by 5.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 181 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Ambarella by 24.4% during the first quarter. Daiwa Securities Group Inc. now owns 939 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 184 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Ambarella Company Profile

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.