Ambarella (NASDAQ:AMBA) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Ambarella (NASDAQ:AMBA - Free Report) from an underperform rating to a neutral rating in a report released on Monday morning, MarketBeat reports. The brokerage currently has $80.00 target price on the semiconductor company's stock.

A number of other research analysts also recently weighed in on AMBA. Needham & Company LLC increased their price target on Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Morgan Stanley increased their price target on Ambarella from $73.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Susquehanna upped their price objective on shares of Ambarella from $70.00 to $85.00 and gave the company a "positive" rating in a research report on Wednesday, November 27th. Craig Hallum upped their price objective on shares of Ambarella from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus upped their price objective on shares of Ambarella from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.17.

Ambarella Stock Up 5.1 %

NASDAQ:AMBA traded up $3.69 during trading hours on Monday, hitting $76.22. 1,115,347 shares of the stock were exchanged, compared to its average volume of 607,935. The company's 50 day moving average is $62.53 and its two-hundred day moving average is $57.01. The company has a market capitalization of $3.18 billion, a P/E ratio of -19.75 and a beta of 1.68. Ambarella has a twelve month low of $39.69 and a twelve month high of $81.32.

Insider Activity

In related news, CEO Feng-Ming Wang sold 4,301 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $230,275.54. Following the completion of the sale, the chief executive officer now directly owns 799,527 shares in the company, valued at approximately $42,806,675.58. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 483 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the sale, the vice president now owns 21,370 shares of the company's stock, valued at $1,144,149.80. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,234 shares of company stock worth $1,233,935 in the last quarter. Corporate insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently bought and sold shares of AMBA. Meeder Asset Management Inc. acquired a new stake in Ambarella during the second quarter worth approximately $26,000. Blue Trust Inc. lifted its position in 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 acquiring an additional 321 shares during the last quarter. CWM LLC lifted its position in Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 304 shares during the last quarter. Signaturefd LLC lifted its position in Ambarella by 389.6% during 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 lifted 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 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.