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

Ambarella (NASDAQ:AMBA) had its target price raised by research analysts at Susquehanna from $95.00 to $100.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price suggests a potential upside of 21.98% from the company’s previous close.

Several other analysts have also issued reports on the company. StockNews.com lowered Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Stifel Nicolaus raised their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday, December 16th. Northland Securities restated an “outperform” rating and issued a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Finally, Morgan Stanley lifted their price objective on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.42.

Ambarella Price Performance

Shares of NASDAQ AMBA traded down $0.67 during trading on Wednesday, hitting $81.98. The stock had a trading volume of 196,566 shares, compared to its average volume of 740,198. The company has a market capitalization of $3.42 billion, a PE ratio of -21.24 and a beta of 1.66. Ambarella has a 12 month low of $39.69 and a 12 month high of $85.15. The firm has a fifty day moving average of $70.96 and a two-hundred day moving average of $60.51.

Insider Transactions at Ambarella

In other news, VP Christopher Day sold 1,278 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the transaction, the vice president now owns 17,188 shares of the company’s stock, valued at approximately $1,230,832.68. The trade was a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chi-Hong Ju sold 5,118 shares of Ambarella stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.71, for a total transaction of $387,483.78. Following the completion of the sale, the vice president now owns 158,686 shares in the company, valued at approximately $12,014,117.06. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,861 shares of company stock valued at $1,945,436 over the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Ambarella

A number of large investors have recently made changes to their positions in AMBA. State Street Corp increased its position in shares of Ambarella by 2.6% during the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after purchasing an additional 47,856 shares during the last quarter. Millennium Management LLC raised its stake in shares of 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 acquiring an additional 94,257 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock worth $76,332,000 after acquiring an additional 61,387 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Ambarella by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 916,757 shares of the semiconductor company’s stock worth $51,719,000 after purchasing an additional 14,568 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after purchasing an additional 355,078 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.