Ambarella (NASDAQ:AMBA) Upgraded by Summit Insights to Hold Rating

Summit Insights upgraded shares of Ambarella (NASDAQ:AMBA - Free Report) to a hold rating in a research note published on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of Ambarella from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Needham & Company LLC reduced their target price on shares of Ambarella from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday. Morgan Stanley dropped their price target on shares of Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. Stifel Nicolaus reduced their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Rosenblatt Securities lifted their price objective on Ambarella from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday. Five 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 target price of $84.55.

Ambarella Stock Performance

NASDAQ AMBA traded up $0.52 during trading on Thursday, reaching $53.16. The company's stock had a trading volume of 1,668,485 shares, compared to its average volume of 711,000. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -13.77 and a beta of 1.99. Ambarella has a twelve month low of $38.86 and a twelve month high of $85.15. The business's fifty day moving average price is $51.27 and its 200-day moving average price is $63.42.

Insiders Place Their Bets

In related news, CEO Feng-Ming Wang sold 3,194 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $175,733.88. Following the sale, the chief executive officer now owns 798,311 shares in the company, valued at $43,923,071.22. This represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 479 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the completion of the sale, the vice president now owns 15,441 shares in the company, valued at approximately $849,563.82. This represents a 3.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,328 shares of company stock worth $513,467. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ambarella

A number of institutional investors and hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ raised its position in Ambarella by 68.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 184 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Ambarella during the fourth quarter worth about $37,000. Sterling Capital Management LLC raised its position in Ambarella by 629.3% during the fourth quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 516 shares during the last quarter. Advisors Asset Management Inc. raised its position 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 last quarter. Finally, Banque Transatlantique SA acquired a new position in Ambarella during the first quarter worth about $50,000. Institutional investors and hedge funds 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.