Ambarella (NASDAQ:AMBA) had its price target raised by equities researchers at Morgan Stanley from $60.00 to $65.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price suggests a potential upside of 11.26% from the company’s previous close.
AMBA has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, December 1st. Oppenheimer reaffirmed a “hold” rating on shares of Ambarella in a report on Friday, December 1st. BidaskClub downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Vetr raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $61.51 price objective on the stock in a report on Tuesday, December 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $62.00 price target (up from $52.00) on shares of Ambarella in a research note on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $59.15.
Ambarella (NASDAQ AMBA) traded up $0.57 during trading hours on Wednesday, hitting $58.42. 416,947 shares of the stock were exchanged, compared to its average volume of 1,040,065. The firm has a market capitalization of $1,920.00, a price-to-earnings ratio of 56.01, a P/E/G ratio of 5.70 and a beta of 1.57. Ambarella has a 1 year low of $40.06 and a 1 year high of $65.39.
In related news, CEO Feng-Ming Wang sold 11,629 shares of Ambarella stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $540,748.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yun-Lung Chen sold 11,340 shares of Ambarella stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.80, for a total transaction of $678,132.00. Following the completion of the transaction, the vice president now owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The disclosure for this sale can be found here. Insiders sold 39,175 shares of company stock valued at $1,979,397 in the last 90 days. Company insiders own 5.80% of the company’s stock.
Several large investors have recently modified their holdings of the company. AXA lifted its position in shares of Ambarella by 17.8% during the 3rd quarter. AXA now owns 834,078 shares of the semiconductor company’s stock worth $40,878,000 after buying an additional 125,972 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Ambarella during the 3rd quarter worth approximately $216,000. Caxton Associates LP purchased a new stake in shares of Ambarella during the 3rd quarter worth approximately $1,005,000. Vident Investment Advisory LLC lifted its position in shares of Ambarella by 82.6% during the 3rd quarter. Vident Investment Advisory LLC now owns 283,991 shares of the semiconductor company’s stock worth $13,918,000 after buying an additional 128,489 shares during the last quarter. Finally, Cowen Inc. purchased a new stake in Ambarella in the 3rd quarter valued at $294,000. Institutional investors and hedge funds own 63.21% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
