Needham & Company LLC Issues Positive Forecast for Ambarella (NASDAQ:AMBA) Stock Price

Ambarella (NASDAQ:AMBA) had its price target raised by Needham & Company LLC from $100.00 to $110.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages have also commented on AMBA. Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Monday, December 16th. Stifel Nicolaus lifted their price target on shares of Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Northland Securities reissued an “outperform” rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Craig Hallum lifted their target price on shares of Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley lifted their target price on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $62.92 on Thursday. The firm has a market cap of $2.62 billion, a PE ratio of -16.30 and a beta of 1.66. The firm’s fifty day moving average is $76.37 and its 200-day moving average is $64.94. Ambarella has a 52 week low of $39.69 and a 52 week high of $85.15.

Insider Buying and Selling at Ambarella

In other news, CEO Feng-Ming Wang sold 4,296 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $323,961.36. Following the completion of the sale, the chief executive officer now directly owns 755,231 shares of the company’s stock, valued at $56,951,969.71. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Leslie Kohn sold 1,757 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $132,495.37. Following the sale, the chief technology officer now directly owns 959,676 shares of the company’s stock, valued at approximately $72,369,167.16. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,861 shares of company stock valued at $1,945,436. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of 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 in the last quarter. Signaturefd LLC boosted its holdings in Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 526 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Ambarella during the fourth quarter worth about $37,000. Finally, Sterling Capital Management LLC boosted its holdings 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 purchasing an additional 516 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

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.