Stifel Nicolaus Forecasts Strong Price Appreciation for Ambarella (NASDAQ:AMBA) Stock

Ambarella (NASDAQ:AMBA) had its price target raised by Stifel Nicolaus from $80.00 to $95.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 31.14% from the company’s previous close.

AMBA has been the topic of a number of other research reports. Morgan Stanley upped their target price on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen raised their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Bank of America boosted their target price on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday. Needham & Company LLC increased their price target on shares of Ambarella from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Craig Hallum lifted their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $81.67.

Ambarella Trading Up 5.9 %

Shares of NASDAQ AMBA opened at $72.44 on Wednesday. The company has a 50 day simple moving average of $58.93 and a two-hundred day simple moving average of $55.13. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.76) earnings per share. Analysts forecast that Ambarella will post -3 EPS for the current year.

Insider Buying and Selling at Ambarella

In other news, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the completion of the sale, the vice president now owns 18,466 shares of the company’s stock, valued at $1,071,028. This represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Alexander Young sold 2,139 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the transaction, the chief financial officer now directly owns 103,529 shares in the company, valued at approximately $5,542,942.66. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,423 shares of company stock valued at $1,356,402 over the last quarter. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Ambarella

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd raised its holdings in shares of Ambarella by 592.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after acquiring an additional 22,144 shares during the period. Mirabella Financial Services LLP acquired a new stake in Ambarella during the third quarter worth about $1,530,000. SWS Partners raised its stake in Ambarella by 25.3% during the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after purchasing an additional 16,049 shares during the period. Millennium Management LLC grew its stake in shares of Ambarella by 7.0% in the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ambarella by 18.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock valued at $12,776,000 after buying an additional 35,977 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.