Ambarella (NASDAQ:AMBA) Given New $50.00 Price Target at Bank of America

Ambarella (NASDAQ:AMBA) had its target price lowered by Bank of America from $62.00 to $50.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an underperform rating on the semiconductor company’s stock.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company lowered shares of Ambarella from an overweight rating to an equal weight rating and decreased their price target for the stock from $85.00 to $65.00 in a report on Wednesday, January 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, February 28th. Morgan Stanley upped their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. Susquehanna upped their price objective on shares of Ambarella from $70.00 to $80.00 and gave the company a positive rating in a research note on Wednesday, February 28th. Finally, StockNews.com raised shares of Ambarella to a sell rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $71.08.

Ambarella Price Performance

Shares of NASDAQ:AMBA opened at $44.49 on Tuesday. The company’s fifty day moving average price is $52.51 and its 200-day moving average price is $54.15. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -10.49 and a beta of 1.66. Ambarella has a one year low of $43.59 and a one year high of $89.18.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.03. The firm had revenue of $51.62 million for the quarter, compared to analyst estimates of $51.68 million. Ambarella had a negative net margin of 74.81% and a negative return on equity of 23.78%. As a group, equities research analysts expect that Ambarella will post -3.53 EPS for the current year.

Insider Transactions at Ambarella

In other news, CEO Feng-Ming Wang sold 2,173 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $107,063.71. Following the completion of the sale, the chief executive officer now directly owns 806,632 shares of the company’s stock, valued at approximately $39,742,758.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Feng-Ming Wang sold 2,173 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $49.27, for a total value of $107,063.71. Following the completion of the transaction, the chief executive officer now directly owns 806,632 shares in the company, valued at approximately $39,742,758.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Alexander Young sold 1,546 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $49.27, for a total transaction of $76,171.42. Following the completion of the transaction, the chief financial officer now owns 107,571 shares of the company’s stock, valued at $5,300,023.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,648 shares of company stock valued at $327,595. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Ambarella

A number of institutional investors and hedge funds have recently bought and sold shares of AMBA. US Bancorp DE increased its stake in Ambarella by 30.3% during the 1st quarter. US Bancorp DE now owns 2,605 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 605 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ambarella by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 181 shares during the period. AlphaCrest Capital Management LLC grew its stake in shares of Ambarella by 33.9% in the first quarter. AlphaCrest Capital Management LLC now owns 3,054 shares of the semiconductor company’s stock worth $320,000 after acquiring an additional 774 shares during the period. Rhumbline Advisers grew its stake in shares of Ambarella by 3.9% in the first quarter. Rhumbline Advisers now owns 37,241 shares of the semiconductor company’s stock worth $3,907,000 after acquiring an additional 1,395 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after acquiring an additional 522,698 shares during the period. 82.09% of the stock is currently owned by institutional investors.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.