Ambarella (NASDAQ:AMBA) Price Target Raised to $100.00

Key Points

• Needham & Company LLC has raised Ambarella's price target from $90.00 to $100.00, indicating a potential upside of 41.58% from the current stock price.
• Ambarella currently holds a buy rating from seven analysts, with an average rating of "Moderate Buy" and a consensus price target of $88.75.
• Shares of Ambarella experienced a 1.8% decline and opened at $70.63 on Friday, with a twelve month high of $85.15 and a low of $38.86.

Ambarella (NASDAQ:AMBA - Free Report) had its price objective upped by Rosenblatt Securities from $95.00 to $100.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company's stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America increased their price objective on shares of Ambarella from $63.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday. Summit Insights upgraded shares of Ambarella from a "hold" rating to a "buy" rating in a report on Friday. Susquehanna increased their price objective on shares of Ambarella from $80.00 to $90.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Stifel Nicolaus raised their price target on shares of Ambarella from $80.00 to $90.00 and gave the company a "buy" rating in a report on Friday. Finally, Needham & Company LLC increased their price objective on shares of Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.88.

Ambarella Stock Performance

NASDAQ AMBA traded up $11.85 during trading hours on Friday, reaching $82.48. The company's stock had a trading volume of 7,138,823 shares, compared to its average volume of 605,608. The stock has a market cap of $3.50 billion, a PE ratio of -39.09 and a beta of 2.08. Ambarella has a fifty-two week low of $38.86 and a fifty-two week high of $93.44. The company's 50-day moving average is $67.18 and its two-hundred day moving average is $59.43.

Insider Transactions at Ambarella

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the firm's 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 sale, the director directly owned 39,281 shares in the company, valued at approximately $2,458,204.98. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. EverSource Wealth Advisors LLC raised its stake in shares of Ambarella by 362.2% during the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 326 shares in the last quarter. Total Investment Management Inc. acquired a new position in Ambarella during the second quarter worth about $30,000. Advisors Asset Management Inc. grew its holdings in Ambarella by 44.1% during the first quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 286 shares during the period. Virtus Advisers LLC acquired a new position in Ambarella during the second quarter worth about $49,000. Finally, Banque Transatlantique SA purchased a new position in Ambarella in the 1st quarter worth about $50,000. 82.09% of the stock is currently owned by institutional investors.

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.