Ambarella (NASDAQ:AMBA) Sets New 52-Week High – Still a Buy?

Ambarella, Inc. (NASDAQ:AMBA) shares reached a new 52-week high on Tuesday . The company traded as high as $81.75 and last traded at $83.32, with a volume of 3566 shares changing hands. The stock had previously closed at $80.79.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMBA shares. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Ambarella in a research report on Friday, December 6th. Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Monday, December 16th. Morgan Stanley upped their price objective on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. 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 report on Wednesday, November 27th. Finally, Susquehanna raised their target price on Ambarella from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Ambarella Stock Up 3.1 %

The company has a 50-day moving average price of $70.96 and a two-hundred day moving average price of $60.51. The stock has a market capitalization of $3.47 billion, a P/E ratio of -21.53 and a beta of 1.66.

Insider Buying and Selling

In other Ambarella news, COO Chan W. Lee sold 1,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the chief operating officer now owns 116,918 shares of the company’s stock, valued at $9,254,059.70. This represents a 0.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,278 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $71.61, for a total transaction of $91,517.58. Following the completion of the transaction, the vice president now owns 17,188 shares in the company, valued at $1,230,832.68. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,861 shares of company stock worth $1,945,436 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ambarella

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Ambarella by 3.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 54,743 shares of the semiconductor company’s stock worth $2,953,000 after buying an additional 2,024 shares during the period. Dimensional Fund Advisors LP raised its holdings in Ambarella by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,119 shares of the semiconductor company’s stock worth $36,854,000 after acquiring an additional 2,994 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Ambarella by 31.2% during the 2nd quarter. Hsbc Holdings PLC now owns 27,830 shares of the semiconductor company’s stock valued at $1,483,000 after purchasing an additional 6,621 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Ambarella during the 2nd quarter valued at $3,809,000. Finally, Sei Investments Co. increased its holdings in shares of Ambarella by 330.7% in the 2nd quarter. Sei Investments Co. now owns 48,463 shares of the semiconductor company’s stock worth $2,615,000 after purchasing an additional 37,211 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Company Profile

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.