Ambarella (NASDAQ:AMBA) Shares Gap Up on Analyst Upgrade

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report)'s stock price gapped up before the market opened on Thursday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $75.81, but opened at $81.11. Ambarella shares last traded at $70.11, with a volume of 730,333 shares trading hands.

Several other equities analysts also recently issued reports on the stock. Bank of America raised shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a report on Monday, December 16th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 price target on shares of Ambarella in a research note on Thursday. Morgan Stanley lifted their price objective on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Craig Hallum increased their target price on Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price target on Ambarella from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $86.67.

Insiders Place Their Bets

In related news, VP Christopher Day sold 482 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $36,347.62. Following the transaction, the vice president now directly owns 16,706 shares in the company, valued at approximately $1,259,799.46. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Chi-Hong Ju sold 5,118 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now directly owns 158,686 shares of the company's stock, valued at approximately $12,014,117.06. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,583 shares of company stock valued at $1,853,918. Insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Ambarella

Several large investors have recently modified their holdings of the business. Tributary Capital Management LLC raised its holdings in Ambarella by 15.4% in the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company's stock valued at $20,917,000 after buying an additional 38,380 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Ambarella by 592.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company's stock valued at $1,460,000 after acquiring an additional 22,144 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Ambarella in the 4th quarter worth approximately $553,000. Mirabella Financial Services LLP purchased a new position in shares of Ambarella during the 3rd quarter worth approximately $1,530,000. Finally, FMR LLC increased its holdings in Ambarella by 185.4% in the 3rd quarter. FMR LLC now owns 17,102 shares of the semiconductor company's stock valued at $965,000 after purchasing an additional 11,110 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company's stock.

Ambarella Trading Down 7.5 %

The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -14.72 and a beta of 1.66. The company's fifty day moving average is $76.07 and its two-hundred day moving average is $65.32.

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.