Ambarella (NASDAQ:AMBA) Rating Increased to Buy at Summit Insights

Key Points

• Ambarella was upgraded by Summit Insights from a "hold" rating to a "buy" rating, reflecting increased analyst confidence in the company's stock.
• Multiple firms, including Rosenblatt and Needham & Company, have raised their price targets for Ambarella shares to between $95.00 and $100.00, with a consensus rating of "Moderate Buy."
• Institutional investors hold a significant stake in Ambarella, owning 82.09% of the company's stock, indicating strong interest and confidence in the company's potential.

Ambarella (NASDAQ:AMBA - Get Free Report) was upgraded by analysts at Summit Insights from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

A number of other equities research analysts have also recently issued reports on AMBA. Morgan Stanley lifted their price target on shares of Ambarella from $80.00 to $96.00 and gave the company an "overweight" rating in a research note on Friday. Susquehanna boosted their price objective on shares of Ambarella from $80.00 to $90.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Rosenblatt Securities boosted their price objective on shares of Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Needham & Company LLC boosted their price objective on shares of Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ambarella currently has an average rating of "Moderate Buy" and a consensus target price of $93.88.

Ambarella Stock Down 2.9%

Shares of Ambarella stock traded down $2.41 during midday trading on Friday, hitting $80.07. The company 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 stock has a market cap of $3.40 billion, a price-to-earnings ratio of -37.95 and a beta of 2.08. The company has a fifty day simple moving average of $67.80 and a 200 day simple moving average of $59.24.

Insider Activity at Ambarella

In other news, Director Christopher B. Paisley sold 1,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $62.58, for a total transaction of $62,580.00. Following the completion of the transaction, the director directly owned 39,281 shares of the company's stock, valued at approximately $2,458,204.98. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Ambarella

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Total Investment Management Inc. acquired a new position in shares of Ambarella during the second quarter worth about $30,000. Cim Investment Management Inc. boosted its holdings in Ambarella by 100.7% in the second quarter. Cim Investment Management Inc. now owns 8,698 shares of the semiconductor company's stock valued at $604,000 after purchasing an additional 4,365 shares in the last quarter. State of Wyoming acquired a new position in Ambarella in the second quarter valued at approximately $63,000. Tower Research Capital LLC TRC boosted its holdings in Ambarella by 1,597.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,924 shares of the semiconductor company's stock valued at $457,000 after purchasing an additional 6,516 shares in the last quarter. Finally, State of Tennessee Department of Treasury boosted its holdings in Ambarella by 230.8% in the second quarter. State of Tennessee Department of Treasury now owns 9,653 shares of the semiconductor company's stock valued at $638,000 after purchasing an additional 6,735 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

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.