The stock of Ambarella Inc (NASDAQ:AMBA) hit a new 52-week high and has $115.89 target or 56.00% above today’s $74.29 share price. The 6 months bullish chart indicates low risk for the $2.50B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $115.89 price target is reached, the company will be worth $1.40 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 832,251 shares traded hands. Ambarella Inc (NASDAQ:AMBA) has risen 60.78% since February 26, 2016 and is uptrending. It has outperformed by 50.35% the S&P500.
Ambarella Inc (NASDAQ:AMBA) Ratings Coverage
Out of 21 analysts covering Ambarella Corporation (NASDAQ:AMBA), 15 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 71% are positive. $122 is the highest target while $43 is the lowest. The $78.73 average target is 5.98% above today’s ($74.29) stock price. Ambarella Corporation has been the topic of 44 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock with “Hold” rating in Tuesday, December 1 report. Craig Hallum initiated the stock with “Buy” rating in Wednesday, December 23 report. The company was upgraded on Tuesday, October 13 by TheStreet. The rating was maintained by JMP Securities with “Outperform” on Thursday, September 3. The stock has “Overweight” rating given by KeyBanc Capital Markets on Tuesday, August 30. The rating was maintained by Canaccord Genuity on Friday, September 2 with “Buy”. The stock of Ambarella Inc (NASDAQ:AMBA) earned “Buy” rating by Zacks on Monday, August 10. The rating was upgraded by Morgan Stanley on Tuesday, March 29 to “Overweight”. The rating was maintained by Pacific Crest with “Overweight” on Monday, November 23. The stock of Ambarella Inc (NASDAQ:AMBA) earned “Buy” rating by Dougherty & Company on Thursday, February 4.
According to Zacks Investment Research, “Ambarella, Inc. develops video compression and image processing semiconductors. The Company’s products are used in digital still cameras, digital camcorders, and video-enabled mobile phones. Ambarella sells its solutions to original design manufacturers and original equipment manufacturers. Its technology is also used in television broadcasting infrastructure systems. Ambarella, Inc. is headquartered in Santa Clara, California.”
Insitutional Activity: The institutional sentiment increased to 1.06 in Q2 2016. Its up 0.33, from 0.73 in 2016Q1. The ratio increased, as 31 funds sold all Ambarella Inc shares owned while 50 reduced positions. 30 funds bought stakes while 56 increased positions. They now own 16.03 million shares or 1.92% more from 15.73 million shares in 2016Q1.
Messner & Smith Theme Value Investment Management Ltd Ca holds 4.4% of its portfolio in Ambarella Inc for 46,961 shares. Van Berkom & Associates Inc. owns 710,147 shares or 1.65% of their US portfolio. Moreover, Tide Point Capital Management Lp has 1.54% invested in the company for 400,000 shares. The Tennessee-based Reliant Investment Management Llc has invested 1.36% in the stock. Rice Hall James & Associates Llc, a California-based fund reported 310,746 shares.
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 9 insider sales for $3.78 million net activity.
More notable recent Ambarella Inc (NASDAQ:AMBA) news were published by: Fool.com which released: “Better Buy: Ambarella, Inc. vs. NVIDIA” on September 22, 2016, also Fool.com with their article: “3 Terrible Reasons to Buy Ambarella Inc. Stock” published on September 07, 2016, Fool.com published: “Why Ambarella Inc Stock Popped 22% in August” on September 13, 2016. More interesting news about Ambarella Inc (NASDAQ:AMBA) were released by: Fool.com and their article: “Better Buy: Ambarella, Inc. vs. Advanced Micro Devices” published on August 31, 2016 as well as Fool.com‘s news article titled: “5 Things Ambarella, Inc. Management Wants You to Know” with publication date: September 12, 2016.
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