Ambarella (NASDAQ:AMBA) Price Target Raised to $90.00

Key Points

• Bank of America has raised its price target for Ambarella (NASDAQ:AMBA) from $63.00 to $90.00, indicating a potential upside of 27.42% from the current stock price.
• A total of eight research analysts have rated Ambarella with a Buy rating and the stock has a consensus target price of $90.00, reflecting strong analyst confidence.
• Ambarella's recent stock performance indicates a market capitalization of $3 billion with a 52-week price range from $38.86 to $85.15.

Ambarella (NASDAQ:AMBA - Free Report) had its price target increased by Bank of America from $63.00 to $90.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the semiconductor company's stock.

Other equities research analysts have also recently issued research reports about the company. Rosenblatt Securities boosted their price objective on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Morgan Stanley boosted their price objective on Ambarella from $80.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday. Needham & Company LLC boosted their price objective on Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday. Summit Insights upgraded Ambarella from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Susquehanna upped their price target on Ambarella from $80.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.88.

Ambarella Stock Performance

NASDAQ AMBA traded down $2.41 on Friday, reaching $80.07. The stock had a trading volume of 2,151,104 shares, compared to its average volume of 880,865. Ambarella has a 12-month low of $38.86 and a 12-month high of $93.44. The business's 50-day moving average price is $67.80 and its 200 day moving average price is $59.24. The stock has a market cap of $3.40 billion, a P/E ratio of -37.95 and a beta of 2.08.

Insider Transactions at Ambarella

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total value of $62,580.00. Following the completion of the transaction, the director owned 39,281 shares in the company, valued at approximately $2,458,204.98. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMBA. Nuveen LLC purchased a new position in Ambarella in the first quarter worth $32,169,000. Jacobs Levy Equity Management Inc. grew its holdings in Ambarella by 1,635.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 647,788 shares of the semiconductor company's stock valued at $32,603,000 after purchasing an additional 610,460 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ambarella by 88.9% in 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 valued at $62,020,000 after purchasing an additional 579,917 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Ambarella in the second quarter valued at $36,810,000. Finally, Balyasny Asset Management L.P. grew its holdings in Ambarella by 894.7% in the second quarter. Balyasny Asset Management L.P. now owns 459,562 shares of the semiconductor company's stock valued at $30,361,000 after purchasing an additional 413,362 shares during the last quarter. Hedge funds and other institutional investors 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.