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Stock analysts at Topeka Capital Markets hoisted their price target on shares of Ambarella (NASDAQ:AMBA) from $33.00 to $43.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ price target indicates a potential upside of 20.12% from the stock’s previous close.

Ambarella (NASDAQ:AMBA) traded up 2.60% during mid-day trading on Friday, hitting $36.70. 4,233,210 shares of the company’s stock traded hands. Ambarella has a 52 week low of $16.25 and a 52 week high of $36.72. The stock’s 50-day moving average is $30.5 and its 200-day moving average is $28.69. The company has a market cap of $1.073 billion and a price-to-earnings ratio of 41.98.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $47.00 million for the quarter, compared to the consensus estimate of $44.70 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Analysts expect that Ambarella will post $1.17 EPS for the current fiscal year.

In other Ambarella news, Insider Leslie Kohn sold 20,000 shares of the stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.00, for a total transaction of $640,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Ambarella from $27.00 to $35.00 in a research note on Friday. They now have a “hold” rating on the stock. Separately, analysts at Imperial Capital initiated coverage on shares of Ambarella in a research note on Wednesday. They set an “outperform” rating and a $39.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Ambarella from $39.00 to $44.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ambarella presently has an average rating of “Buy” and a consensus target price of $35.89.

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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