Ambarella, Inc. (NASDAQ:AMBA) had its price target upped by equities research analysts at Stifel Nicolaus from $52.00 to $62.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.81% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. KeyCorp restated a “hold” rating on shares of Ambarella in a report on Friday, November 3rd. Zacks Investment Research upgraded Ambarella from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Canaccord Genuity reiterated a “buy” rating and set a $65.00 price target (up previously from $58.00) on shares of Ambarella in a report on Friday, October 13th. Morgan Stanley reiterated an “overweight” rating and set a $60.00 price target on shares of Ambarella in a report on Wednesday, September 27th. Finally, ValuEngine upgraded Ambarella from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $59.77.

Ambarella (AMBA) opened at $56.98 on Wednesday. The stock has a market capitalization of $1,868.96, a price-to-earnings ratio of 36.30, a P/E/G ratio of 5.96 and a beta of 1.59. Ambarella has a 1-year low of $40.06 and a 1-year high of $65.78.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The business had revenue of $71.63 million for the quarter, compared to analysts’ expectations of $70.79 million. Ambarella had a return on equity of 11.94% and a net margin of 16.45%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. research analysts forecast that Ambarella will post 0.64 EPS for the current year.

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In other Ambarella news, VP Christopher Day sold 2,618 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $49.15, for a total value of $128,674.70. Following the completion of the sale, the vice president now owns 20,377 shares of the company’s stock, valued at $1,001,529.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Feng-Ming Wang sold 11,629 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $46.50, for a total value of $540,748.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,835 shares of company stock valued at $1,301,265. Insiders own 5.80% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Ambarella by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock worth $104,169,000 after buying an additional 60,770 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Ambarella by 6.5% in the third quarter. Van Berkom & Associates Inc. now owns 1,316,350 shares of the semiconductor company’s stock worth $64,514,000 after buying an additional 80,867 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Ambarella by 36.2% in the second quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock worth $55,949,000 after buying an additional 306,248 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Ambarella by 54.9% in the third quarter. Pinnacle Associates Ltd. now owns 1,014,489 shares of the semiconductor company’s stock worth $49,720,000 after buying an additional 359,417 shares during the last quarter. Finally, AXA lifted its position in shares of Ambarella by 100.6% in the second quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after buying an additional 355,170 shares during the last quarter. 59.92% of the stock is owned by institutional investors.

Ambarella Company Profile

Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.

Analyst Recommendations for Ambarella (NASDAQ:AMBA)

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