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

Ambarella (NASDAQ:AMBA) had its price objective raised by Susquehanna from $70.00 to $85.00 in a research note released on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on AMBA. Bank of America lifted their price target on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Morgan Stanley boosted their price objective on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Roth Mkm reiterated a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Ambarella currently has an average rating of “Hold” and a consensus target price of $81.67.

Ambarella Price Performance

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

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) earnings per share. Sell-side analysts anticipate that Ambarella will post -3 earnings per share for the current year.

Insider Buying and Selling

In other Ambarella news, CFO John Alexander Young sold 2,139 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value 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. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher Day sold 2,904 shares of the firm’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 sale, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,423 shares of company stock worth $1,356,402 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of Ambarella during the 2nd quarter valued at about $26,000. Blue Trust Inc. raised its stake in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares in the last quarter. CWM LLC lifted its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 842 shares during the last quarter. Institutional investors 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.