Ambarella (NASDAQ:AMBA) Lifted to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Ambarella (NASDAQ:AMBA) from an equal weight rating to an overweight rating in a report released on Wednesday, Price Targets.com reports. They currently have $205.00 target price on the semiconductor company’s stock.

Other analysts have also issued reports about the company. Craig Hallum boosted their price objective on Ambarella from $170.00 to $250.00 and gave the company a buy rating in a report on Wednesday, December 1st. Rosenblatt Securities upped their target price on Ambarella from $210.00 to $250.00 and gave the company a buy rating in a report on Wednesday, December 1st. Needham & Company LLC raised Ambarella to a buy rating and set a $225.00 target price for the company in a report on Wednesday, January 5th. Stifel Nicolaus upped their target price on Ambarella from $215.00 to $230.00 and gave the company a buy rating in a report on Wednesday, January 5th. Finally, Bank of America upped their target price on Ambarella from $119.00 to $140.00 and gave the company an underperform rating in a report on Monday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $212.00.

Shares of Ambarella stock opened at $155.82 on Wednesday. The firm has a market cap of $5.77 billion, a P/E ratio of -187.73 and a beta of 1.15. Ambarella has a fifty-two week low of $82.59 and a fifty-two week high of $227.59. The business has a 50-day moving average price of $189.84 and a 200 day moving average price of $151.09.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, November 30th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The firm had revenue of $92.17 million during the quarter, compared to analyst estimates of $90.35 million. Ambarella had a negative return on equity of 5.92% and a negative net margin of 9.78%. Ambarella’s quarterly revenue was up 64.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.49) earnings per share. On average, equities analysts anticipate that Ambarella will post -0.39 EPS for the current year.

In other Ambarella news, VP Chi-Hong Ju sold 402 shares of the company’s stock in a transaction that occurred on Monday, December 27th. The stock was sold at an average price of $209.97, for a total value of $84,407.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 832 shares of the company’s stock in a transaction that occurred on Friday, December 3rd. The stock was sold at an average price of $192.69, for a total value of $160,318.08. The disclosure for this sale can be found here. Insiders sold 47,268 shares of company stock valued at $9,318,777 over the last 90 days. 5.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its position in shares of Ambarella by 382.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,101 shares of the semiconductor company’s stock valued at $629,000 after acquiring an additional 2,458 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Ambarella by 669.8% during the 4th quarter. IFP Advisors Inc now owns 662 shares of the semiconductor company’s stock valued at $134,000 after acquiring an additional 576 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Ambarella during the 3rd quarter valued at $23,497,000. Mcdonald Partners LLC lifted its position in shares of Ambarella by 0.4% during the 3rd quarter. Mcdonald Partners LLC now owns 20,246 shares of the semiconductor company’s stock valued at $3,153,000 after acquiring an additional 75 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Ambarella by 55.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 205,299 shares of the semiconductor company’s stock valued at $31,974,000 after acquiring an additional 73,218 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

About Ambarella

Ambarella, Inc engages in the development and sale of video compression, image processing, and computer vision solutions. It offers processors and software that cater to end markets including security cameras, automotive cameras, industrial and robotic applications, and consumer applications. The company was founded by Feng Ming Wang and Leslie D.

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