Ambarella (NASDAQ:AMBA) Price Target Cut to $90.00 by Analysts at Needham & Company LLC

Ambarella (NASDAQ:AMBA - Get Free Report) had its target price cut by equities research analysts at Needham & Company LLC from $110.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective points to a potential upside of 74.05% from the stock's previous close.

Several other research analysts also recently commented on the company. Stifel Nicolaus dropped their price target on Ambarella from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen raised Ambarella from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Morgan Stanley dropped their price target on Ambarella from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Finally, Rosenblatt Securities lifted their price target on Ambarella from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.55.

Ambarella Trading Down 16.6%

NASDAQ:AMBA traded down $10.29 during mid-day trading on Friday, hitting $51.71. 4,453,032 shares of the company's stock traded hands, compared to its average volume of 707,168. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -13.40 and a beta of 1.99. The firm has a 50 day moving average of $51.29 and a two-hundred day moving average of $63.42. Ambarella has a 12 month low of $38.86 and a 12 month high of $85.15.

Insider Transactions at Ambarella

In other news, Director Christopher B. Paisley sold 500 shares of Ambarella stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $55.50, for a total transaction of $27,750.00. Following the sale, the director now owns 40,281 shares of the company's stock, valued at approximately $2,235,595.50. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher Day sold 479 shares of Ambarella 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 sale, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. The trade was a 3.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,328 shares of company stock valued at $513,467. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Ambarella

Several institutional investors have recently modified their holdings of AMBA. Skandinaviska Enskilda Banken AB publ boosted its stake in Ambarella by 68.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 452 shares of the semiconductor company's stock valued at $32,000 after buying an additional 184 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Ambarella in the 4th quarter valued at $37,000. Sterling Capital Management LLC boosted its stake in Ambarella by 629.3% in the 4th quarter. Sterling Capital Management LLC now owns 598 shares of the semiconductor company's stock valued at $43,000 after buying an additional 516 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company's stock valued at $47,000 after buying an additional 286 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Ambarella in the 1st quarter valued at $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.