StockNews.com Downgrades Ambarella (NASDAQ:AMBA) to Sell

StockNews.com cut shares of Ambarella (NASDAQ:AMBA - Free Report) from a hold rating to a sell rating in a report published on Tuesday.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC lifted their target price on shares of Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Bank of America upped their price objective on shares of Ambarella from $57.00 to $65.00 and gave the stock an "underperform" rating in a research report on Wednesday, November 27th. Roth Mkm reissued a "neutral" rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Craig Hallum lifted their price target on Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, Northland Securities reiterated an "outperform" rating and set a $95.00 price target (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $82.92.

Ambarella Stock Performance

Shares of Ambarella stock traded down $2.49 during trading on Tuesday, hitting $72.22. 573,159 shares of the company's stock were exchanged, compared to its average volume of 607,400. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -18.71 and a beta of 1.68. The business has a 50-day simple moving average of $61.57 and a 200-day simple moving average of $56.52. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32.

Insider Activity

In other news, CTO Leslie Kohn sold 1,608 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $86,092.32. Following the sale, the chief technology officer now directly owns 961,433 shares of the company's stock, valued at approximately $51,475,122.82. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares of the company's stock, valued at $5,542,942.66. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,474 shares of company stock valued at $1,246,694. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. Meeder Asset Management Inc. purchased a new position in Ambarella in the second quarter valued at $26,000. Blue Trust Inc. boosted its stake in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company's stock valued at $27,000 after buying an additional 321 shares during the period. CWM LLC grew its position in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company's stock worth $29,000 after buying an additional 304 shares in the last quarter. Signaturefd LLC increased its stake in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company's stock worth $37,000 after buying an additional 526 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Ambarella by 6,014.3% in the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 842 shares in the last quarter. 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.