Craig Hallum Issues Positive Forecast for Ambarella (NASDAQ:AMBA) Stock Price

Ambarella (NASDAQ:AMBA) had its target price increased by Craig Hallum from $85.00 to $90.00 in a research note published on Wednesday,Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on AMBA. Stifel Nicolaus increased their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Westpark Capital reissued a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. Northland Securities restated an “outperform” rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research report on Wednesday. Finally, Susquehanna lifted their price objective on shares of Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $81.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $72.44 on Wednesday. The company’s fifty day moving average is $58.23 and its two-hundred day moving average is $54.89. Ambarella has a 1-year low of $39.69 and a 1-year high of $81.32. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share 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 during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the prior year, the firm earned ($0.76) EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Ambarella will post -3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 owns 103,529 shares of the company’s stock, valued at $5,542,942.66. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock valued at $1,356,402 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its stake in Ambarella by 1,556.9% during the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after purchasing an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Ambarella by 36.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after acquiring an additional 343,385 shares during the last quarter. Barclays PLC boosted its stake in shares of Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after acquiring an additional 286,296 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Ambarella by 69.2% in the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after acquiring an additional 250,778 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.