Needham & Company LLC Increases Ambarella (NASDAQ:AMBA) Price Target to $110.00

Ambarella (NASDAQ:AMBA) had its price objective boosted by Needham & Company LLC from $100.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 79.07% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on AMBA. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Monday, December 16th. Morgan Stanley upped their price objective on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Northland Securities restated an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Craig Hallum upped their price objective on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Price Performance

Shares of NASDAQ AMBA opened at $61.43 on Thursday. The stock has a market capitalization of $2.56 billion, a P/E ratio of -15.91 and a beta of 1.66. Ambarella has a 1-year low of $39.69 and a 1-year high of $85.15. The business has a fifty day moving average price of $76.26 and a 200 day moving average price of $64.93.

Insider Transactions at Ambarella

In other news, COO Chan W. Lee sold 1,488 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $112,210.08. Following the completion of the transaction, the chief operating officer now directly owns 119,918 shares in the company, valued at $9,043,016.38. This trade represents a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Feng-Ming Wang sold 4,296 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $323,961.36. Following the completion of the transaction, the chief executive officer now owns 755,231 shares of the company’s stock, valued at approximately $56,951,969.71. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,861 shares of company stock worth $1,945,436 over the last three months. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in 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 during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Ambarella by 68.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 184 shares during the period. Signaturefd LLC grew its holdings in Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Ambarella during the fourth quarter worth about $37,000. Finally, Sterling Capital Management LLC grew its holdings in Ambarella by 629.3% during the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 516 shares during the period. 82.09% of the stock is currently owned by hedge funds and other 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.