Ambarella (NASDAQ:AMBA) Price Target Raised to $90.00 at Morgan Stanley

Ambarella (NASDAQ:AMBA) had its target price hoisted by equities research analysts at Morgan Stanley from $73.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 24.24% from the company’s current price.

Several other research firms also recently issued reports on AMBA. Roth Mkm restated a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. TD Cowen upped their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Craig Hallum increased their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Ambarella has a consensus rating of “Hold” and a consensus target price of $81.67.

Ambarella Price Performance

NASDAQ:AMBA opened at $72.44 on Wednesday. The company has a market cap of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63. The firm’s fifty day moving average price is $58.93 and its two-hundred day moving average price is $55.13. Ambarella has a one year low of $39.69 and a one year high of $81.32.

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

Insider Transactions at Ambarella

In other news, Director Elizabeth M. Schwarting sold 913 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total value of $49,977.62. Following the completion of the transaction, the director now directly owns 8,155 shares in the company, valued at approximately $446,404.70. This represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now owns 18,466 shares in the company, valued at $1,071,028. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,423 shares of company stock valued at $1,356,402. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Ambarella

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd raised its holdings in Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock valued at $1,460,000 after buying an additional 22,144 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Ambarella during the third quarter worth $1,530,000. SWS Partners grew its stake in shares of Ambarella by 25.3% in 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 last quarter. Millennium Management LLC increased its holdings in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Ambarella by 18.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after purchasing an additional 35,977 shares during the last quarter. 82.09% 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 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.