Needham & Company LLC Increases Ambarella (NASDAQ:AMBA) Price Target to $110.00

Ambarella (NASDAQ:AMBA) had its price target increased by equities researchers at Needham & Company LLC from $100.00 to $110.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 45.10% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Craig Hallum boosted their target price on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley boosted their target price on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Northland Securities reiterated an “outperform” rating and issued a $95.00 target price (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Ambarella in a report on Friday, December 6th. Finally, Stifel Nicolaus boosted their target price on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.25.

Ambarella Price Performance

NASDAQ:AMBA opened at $75.81 on Thursday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -19.64 and a beta of 1.66. The company’s 50-day moving average is $76.37 and its two-hundred day moving average is $64.94. Ambarella has a 1-year low of $39.69 and a 1-year high of $85.15.

Insider Transactions at Ambarella

In other Ambarella news, VP Christopher Day sold 1,278 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $71.61, for a total transaction of $91,517.58. Following the sale, the vice president now directly owns 17,188 shares in the company, valued at $1,230,832.68. This represents a 6.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Feng-Ming Wang sold 4,296 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $323,961.36. Following the sale, the chief executive officer now owns 755,231 shares in the company, valued at approximately $56,951,969.71. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,861 shares of company stock worth $1,945,436. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Ambarella by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 4,696,124 shares of the semiconductor company’s stock worth $341,596,000 after buying an additional 81,557 shares in the last quarter. State Street Corp increased its position in shares of Ambarella by 2.6% in the 3rd quarter. State Street Corp now owns 1,924,235 shares of the semiconductor company’s stock valued at $108,536,000 after purchasing an additional 47,856 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ambarella by 7.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,452,128 shares of the semiconductor company’s stock valued at $105,628,000 after purchasing an additional 98,841 shares during the last quarter. Millennium Management LLC increased its position in shares of Ambarella by 11.5% in the 4th quarter. Millennium Management LLC now owns 1,394,192 shares of the semiconductor company’s stock valued at $101,414,000 after purchasing an additional 144,268 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Ambarella by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,353,287 shares of the semiconductor company’s stock valued at $76,332,000 after purchasing an additional 61,387 shares during the last quarter. 82.09% of the stock is currently 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.