Ambarella (NASDAQ:AMBA) Price Target Lowered to $50.00 at Bank of America

Ambarella (NASDAQ:AMBA) had its price target decreased by Bank of America from $62.00 to $50.00 in a report issued on Tuesday, Benzinga reports. Bank of America currently has an underperform rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. Susquehanna lifted their target price on shares of Ambarella from $70.00 to $80.00 and gave the company a positive rating in a report on Wednesday, February 28th. Needham & Company LLC reaffirmed a buy rating and set a $90.00 target price on shares of Ambarella in a report on Wednesday, February 28th. StockNews.com raised shares of Ambarella to a sell rating in a report on Saturday. Morgan Stanley lifted their price target on shares of Ambarella from $67.00 to $73.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company cut shares of Ambarella from an overweight rating to an equal weight rating and dropped their price target for the company from $85.00 to $65.00 in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $71.08.

Ambarella Price Performance

NASDAQ:AMBA opened at $44.49 on Tuesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -10.49 and a beta of 1.66. The company has a 50 day moving average price of $52.51 and a 200-day moving average price of $54.15. Ambarella has a 1-year low of $43.59 and a 1-year high of $89.18.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.03. The firm had revenue of $51.62 million during the quarter, compared to analyst estimates of $51.68 million. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. On average, sell-side analysts anticipate that Ambarella will post -3.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO John Alexander Young sold 1,546 shares of Ambarella stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $76,171.42. Following the transaction, the chief financial officer now owns 107,571 shares in the company, valued at approximately $5,300,023.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO John Alexander Young sold 1,546 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $76,171.42. Following the sale, the chief financial officer now directly owns 107,571 shares in the company, valued at approximately $5,300,023.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Leslie Kohn sold 1,198 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $59,025.46. Following the completion of the sale, the chief technology officer now owns 964,664 shares in the company, valued at $47,528,995.28. The disclosure for this sale can be found here. Insiders have sold a total of 6,648 shares of company stock valued at $327,595 in the last 90 days. 5.90% of the stock is owned by insiders.

Institutional Trading of Ambarella

Institutional investors and hedge funds have recently bought and sold shares of the stock. LM Advisors LLC purchased a new stake in Ambarella in the 4th quarter valued at about $25,000. Creative Planning purchased a new stake in Ambarella in the 3rd quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in Ambarella during the third quarter worth about $51,000. Stephens Inc. AR increased its stake in Ambarella by 73.0% during the first quarter. Stephens Inc. AR now owns 1,095 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 462 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Ambarella during the third quarter worth about $66,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

About Ambarella

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.