Ambarella (NASDAQ:AMBA) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• Ambarella's shares reached a new 52-week high following an upgrade from Rosenblatt Securities, which raised its price target to $100.00 while maintaining a buy rating.
• Multiple analysts have recently adjusted their price targets for Ambarella, with Bank of America setting a new target at $90.00, indicating high confidence in the company's performance.
• Insider and institutional investor activity has increased, with notable buy increases, indicating strong market interest and support for the stock.

Shares of Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) hit a new 52-week high on Friday after Rosenblatt Securities raised their price target on the stock from $95.00 to $100.00. Rosenblatt Securities currently has a buy rating on the stock. Ambarella traded as high as $93.44 and last traded at $84.61, with a volume of 1615280 shares trading hands. The stock had previously closed at $70.63.

Other analysts have also recently issued research reports about the company. Bank of America boosted their price target on Ambarella from $63.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday. Summit Insights raised Ambarella from a "hold" rating to a "buy" rating in a research report on Friday. Morgan Stanley reaffirmed an "overweight" rating on shares of Ambarella in a research report on Friday. Stifel Nicolaus raised their price target on Ambarella from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Friday. Finally, Susquehanna raised their price target on Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.88.

Insider Buying and Selling at Ambarella

In related news, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $62.58, for a total value of $62,580.00. Following the completion of the sale, the director 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its position in Ambarella by 4.0% in the first quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock worth $2,948,000 after purchasing an additional 2,249 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Ambarella by 238.3% in the first quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company's stock worth $678,000 after purchasing an additional 9,491 shares in the last quarter. GAMMA Investing LLC raised its position in Ambarella by 6,804.3% in the first quarter. GAMMA Investing LLC now owns 16,156 shares of the semiconductor company's stock worth $813,000 after purchasing an additional 15,922 shares in the last quarter. Principal Financial Group Inc. raised its position in Ambarella by 61.8% in the first quarter. Principal Financial Group Inc. now owns 25,794 shares of the semiconductor company's stock worth $1,298,000 after purchasing an additional 9,857 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Ambarella by 133.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,317 shares of the semiconductor company's stock worth $217,000 after purchasing an additional 2,464 shares in the last quarter. Institutional investors own 82.09% of the company's stock.

Ambarella Stock Up 20.4%

The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -34.18 and a beta of 2.08. The company's 50-day moving average is $66.57 and its 200-day moving average is $59.36.

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.

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