Ambarella Inc. (AMBA) Price Target Lowered to $70.00 at KeyCorp
Other analysts have also recently issued reports about the company. Canaccord Genuity lifted their price objective on Ambarella from $85.00 to $86.00 and gave the company a buy rating in a research report on Wednesday, August 31st. Morgan Stanley reaffirmed a buy rating and set a $78.00 price objective on shares of Ambarella in a research report on Friday, September 2nd. Pacific Crest reaffirmed a buy rating on shares of Ambarella in a research report on Friday, September 2nd. Needham & Company LLC reaffirmed a hold rating on shares of Ambarella in a research report on Friday, September 2nd. Finally, Vetr raised Ambarella from a hold rating to a buy rating and set a $74.39 price objective on the stock in a research report on Thursday, October 6th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Ambarella has a consensus rating of Buy and a consensus price target of $69.31.
Ambarella (NASDAQ:AMBA) opened at 62.59 on Tuesday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 47.13 and a beta of 1.63. The stock’s 50 day moving average price is $61.64 and its 200 day moving average price is $58.67. Ambarella has a 52 week low of $33.39 and a 52 week high of $74.95.
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In other news, VP Yun-Lung Chen sold 4,197 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $74.19, for a total transaction of $311,375.43. Following the transaction, the vice president now directly owns 13,530 shares in the company, valued at $1,003,790.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 1,405 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $67.98, for a total transaction of $95,511.90. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.
A number of large investors have recently bought and sold shares of AMBA. LPL Financial LLC boosted its stake in Ambarella by 3.2% in the third quarter. LPL Financial LLC now owns 36,446 shares of the company’s stock worth $2,662,000 after buying an additional 1,140 shares during the last quarter. Dai Ichi Life Holdings Inc. purchased a new stake in Ambarella during the third quarter worth approximately $2,675,000. Moors & Cabot Inc. purchased a new stake in Ambarella during the third quarter worth approximately $266,000. The Manufacturers Life Insurance Company purchased a new stake in Ambarella during the third quarter worth approximately $1,589,000. Finally, Two Sigma Advisers LP boosted its stake in Ambarella by 7.8% in the third quarter. Two Sigma Advisers LP now owns 16,600 shares of the company’s stock worth $1,222,000 after buying an additional 1,200 shares during the last quarter. 58.80% 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.
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