Ambarella (NASDAQ:AMBA) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Ambarella (NASDAQ:AMBA) from a sell rating to a hold rating in a report issued on Friday morning.

A number of other brokerages also recently commented on AMBA. Bank of America upgraded Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday, December 16th. Stifel Nicolaus lifted their target price on Ambarella from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Ambarella in a research note on Thursday. Craig Hallum lifted their target price on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Needham & Company LLC lifted their price target on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Ambarella has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Ambarella Stock Performance

NASDAQ:AMBA opened at $61.43 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -15.91 and a beta of 1.66. Ambarella has a one year low of $39.69 and a one year high of $85.15. The stock has a 50-day simple moving average of $76.26 and a 200 day simple moving average of $64.93.

Insider Buying and Selling

In related news, VP Christopher Day sold 1,278 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the sale, the vice president now owns 17,188 shares of the company’s stock, valued at $1,230,832.68. The trade was a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chan W. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $73.48, for a total value of $73,480.00. Following the sale, the chief operating officer now directly owns 114,918 shares in the company, valued at approximately $8,444,174.64. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,861 shares of company stock valued at $1,945,436 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMBA. Creative Planning grew its position in Ambarella by 144.0% in the third quarter. Creative Planning now owns 14,719 shares of the semiconductor company’s stock worth $830,000 after buying an additional 8,687 shares during the last quarter. Blue Trust Inc. grew its position in Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. SteelPeak Wealth LLC grew its position in Ambarella by 45.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 12,204 shares of the semiconductor company’s stock worth $688,000 after purchasing an additional 3,819 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Ambarella by 20.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 501,036 shares of the semiconductor company’s stock worth $28,261,000 after purchasing an additional 83,752 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Ambarella by 216.7% during the 3rd quarter. Van ECK Associates Corp now owns 4,563 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 3,122 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.