Ambarella (NASDAQ:AMBA) Shares Gap Up After Analyst Upgrade

Shares of Ambarella, Inc. (NASDAQ:AMBA) gapped up before the market opened on Thursday after Stifel Nicolaus raised their price target on the stock from $95.00 to $100.00. The stock had previously closed at $75.81, but opened at $81.11. Stifel Nicolaus currently has a buy rating on the stock. Ambarella shares last traded at $70.11, with a volume of 730,333 shares.

Several other analysts have also issued reports on AMBA. Northland Securities reaffirmed an “outperform” rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Susquehanna upped their price target on shares of Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Needham & Company LLC increased their target price on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ambarella has a consensus rating of “Moderate Buy” and an average price target of $86.67.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 1,278 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the completion of the transaction, the vice president now owns 17,188 shares in the company, valued at $1,230,832.68. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chi-Hong Ju sold 5,118 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.71, for a total value of $387,483.78. Following the transaction, the vice president now owns 158,686 shares of the company’s stock, valued at approximately $12,014,117.06. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,861 shares of company stock valued at $1,945,436 over the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMBA. Fuller & Thaler Asset Management Inc. purchased a new position in Ambarella in the 4th quarter worth $52,770,000. Point72 Asset Management L.P. lifted its stake in Ambarella by 70.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock valued at $48,626,000 after buying an additional 355,078 shares in the last quarter. Invesco Ltd. lifted its stake in Ambarella by 736.7% in the 4th quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company’s stock worth $24,421,000 after purchasing an additional 295,606 shares in the last quarter. Barclays PLC lifted its stake in Ambarella by 281.3% in the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after purchasing an additional 286,296 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in Ambarella by 2,367.1% in the 4th quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock worth $19,155,000 after purchasing an additional 252,659 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

Ambarella Trading Down 6.4 %

The stock’s fifty day moving average price is $76.37 and its 200-day moving average price is $64.94. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -18.39 and a beta of 1.66.

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.