Ambarella Sees Large Volume Increase After Analyst Upgrade (AMBA)
Shares of Ambarella (NASDAQ:AMBA) saw an uptick in trading volume on Tuesday after Stifel Nicolaus raised their price target on the stock from $35.00 to $39.00, American Banking & Market News reports. 1,954,744 shares were traded during mid-day trading, an increase of 98% from the previous session’s volume of 985,353 shares.The stock last traded at $35.30 and had previously closed at $34.25.
Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Ambarella in a research note on Wednesday, June 4th. They now have a $27.00 price target on the stock, down previously from $32.00. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.29.
In other Ambarella news, Insider Leslie Kohn sold 20,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.00, for a total value of $640,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $30.16 and a 200-day moving average of $28.57. The company has a market cap of $1.029 billion and a P/E ratio of 40.20.
Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.
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