Morgan Stanley Cuts Ambarella (NASDAQ:AMBA) Price Target to $80.00

Ambarella (NASDAQ:AMBA - Free Report) had its price objective lowered by Morgan Stanley from $90.00 to $80.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company's stock.

A number of other research firms also recently weighed in on AMBA. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of Ambarella in a research report on Thursday, February 27th. Wall Street Zen raised Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Stifel Nicolaus reduced their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC boosted their price target on Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.17.

Ambarella Stock Performance

Ambarella stock traded down $0.40 during midday trading on Tuesday, reaching $62.00. The stock had a trading volume of 1,580,233 shares, compared to its average volume of 704,175. The stock has a market capitalization of $2.63 billion, a P/E ratio of -16.06 and a beta of 1.99. Ambarella has a 1-year low of $38.86 and a 1-year high of $85.15. The firm's fifty day simple moving average is $51.37 and its 200-day simple moving average is $63.44.

Insider Activity at Ambarella

In other news, Director Christopher B. Paisley sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $55.50, for a total transaction of $27,750.00. Following the transaction, the director now directly owns 40,281 shares of the company's stock, valued at approximately $2,235,595.50. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher Day sold 479 shares of Ambarella stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $55.02, for a total transaction of $26,354.58. Following the completion of the sale, the vice president now owns 15,441 shares of the company's stock, valued at approximately $849,563.82. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,328 shares of company stock worth $513,467. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Ambarella

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Ambarella by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 4,848,305 shares of the semiconductor company's stock valued at $244,015,000 after acquiring an additional 152,181 shares during the period. The Manufacturers Life Insurance Company lifted its position in Ambarella by 7.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company's stock worth $105,628,000 after purchasing an additional 98,841 shares during the period. Millennium Management LLC grew its stake in Ambarella by 11.5% during the fourth quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company's stock worth $101,414,000 after buying an additional 144,268 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ambarella by 88.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,232,272 shares of the semiconductor company's stock worth $62,020,000 after buying an additional 579,917 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Ambarella by 25.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 910,911 shares of the semiconductor company's stock valued at $45,846,000 after buying an additional 185,444 shares during the period. Institutional investors and hedge funds own 82.09% of the company's stock.

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.