Ambarella (NASDAQ:AMBA) Rating Increased to Hold at Summit Insights

Summit Insights upgraded shares of Ambarella (NASDAQ:AMBA) to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. Stifel Nicolaus cut their price target 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 upgraded Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Morgan Stanley reduced their target price on shares of Ambarella from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, May 27th. Rosenblatt Securities lifted their price target on shares of Ambarella from $87.00 to $95.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC cut their price objective on shares of Ambarella from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.55.

Ambarella Price Performance

Shares of AMBA opened at $51.71 on Thursday. Ambarella has a 1-year low of $38.86 and a 1-year high of $85.15. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -13.40 and a beta of 1.99. The firm has a 50 day simple moving average of $51.29 and a 200-day simple moving average of $63.42.

Insiders Place Their Bets

In other Ambarella news, VP Christopher Day sold 479 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the sale, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 500 shares of the 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 completion of the sale, the director now directly owns 40,281 shares of the company’s stock, valued at $2,235,595.50. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,328 shares of company stock valued at $513,467 over the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Ambarella by 3.2% in 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 period. The Manufacturers Life Insurance Company raised its holdings in shares of Ambarella by 7.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock valued at $105,628,000 after buying an additional 98,841 shares during the period. Millennium Management LLC raised its holdings in shares of 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 worth $62,020,000 after acquiring an additional 579,917 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Ambarella by 25.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 910,911 shares of the semiconductor company’s stock worth $45,846,000 after acquiring an additional 185,444 shares during the period. Institutional investors and hedge funds 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.