Ambarella (NASDAQ:AMBA) Price Target Cut to $80.00 by Analysts at Morgan Stanley

Ambarella (NASDAQ:AMBA) had its price target lowered by equities researchers at Morgan Stanley from $90.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target suggests a potential upside of 28.21% from the stock’s current price.

AMBA has been the subject of a number of other research reports. Stifel Nicolaus decreased their price objective on Ambarella from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Wall Street Zen raised shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday, February 27th. Finally, Needham & Company LLC lifted their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ambarella currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Ambarella Stock Down 0.1%

AMBA opened at $62.40 on Tuesday. The stock has a market cap of $2.65 billion, a PE ratio of -16.17 and a beta of 1.99. The business has a 50 day moving average of $51.24 and a 200-day moving average of $63.43. Ambarella has a 52 week low of $38.86 and a 52 week high of $85.15.

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 500 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the transaction, the director now directly owns 40,281 shares of the company’s stock, valued at $2,235,595.50. This 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, VP Christopher Day sold 479 shares of Ambarella stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the completion of the sale, the vice president now owns 15,441 shares of the company’s stock, valued at $849,563.82. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,328 shares of company stock worth $513,467 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Ambarella

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Ambarella by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,848,305 shares of the semiconductor company’s stock valued at $244,015,000 after purchasing an additional 152,181 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Ambarella by 7.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock worth $105,628,000 after purchasing an additional 98,841 shares during the period. Millennium Management LLC raised its stake in Ambarella by 11.5% during the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after buying an additional 144,268 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Ambarella by 88.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,232,272 shares of the semiconductor company’s stock valued at $62,020,000 after buying an additional 579,917 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Ambarella by 25.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 910,911 shares of the semiconductor company’s stock valued at $45,846,000 after buying an additional 185,444 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

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.