Ambarella (NASDAQ:AMBA) Given New $85.00 Price Target at Susquehanna

Ambarella (NASDAQ:AMBA - Get Free Report) had its price objective boosted by analysts at Susquehanna from $70.00 to $85.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "positive" rating on the semiconductor company's stock. Susquehanna's target price suggests a potential upside of 24.25% from the stock's current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley lifted their price target on Ambarella from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Wednesday, August 28th. Roth Mkm reiterated a "neutral" rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Stifel Nicolaus raised their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. TD Cowen upped their price objective on shares of Ambarella from $65.00 to $75.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Finally, Craig Hallum lifted their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $77.92.

Ambarella Price Performance

Shares of AMBA opened at $68.41 on Wednesday. The company has a 50-day moving average of $58.23 and a two-hundred day moving average of $54.89. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -15.84 and a beta of 1.63. Ambarella has a one year low of $39.69 and a one year high of $69.55.

Ambarella (NASDAQ:AMBA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. During the same quarter last year, the business posted ($0.76) EPS. The company's revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Ambarella will post -3 earnings per share for the current year.

Insider Activity at Ambarella

In other Ambarella news, COO Chan W. Lee sold 1,490 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $79,774.60. Following the transaction, the chief operating officer now owns 121,406 shares in the company, valued at $6,500,077.24. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the transaction, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,423 shares of company stock valued at $1,356,402. Insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in Ambarella during the 2nd quarter valued at approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company's stock worth $27,000 after buying an additional 321 shares during the last quarter. CWM LLC boosted its position in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 304 shares during the period. Signaturefd LLC grew its stake in shares of Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 526 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 842 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

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.

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