Ambarella Inc. (NASDAQ:AMBA) rose 3.8% during mid-day trading on Wednesday . The stock traded as high as $51.33 and last traded at $51.29, with a volume of 441,307 shares changing hands. The stock had previously closed at $49.43.

AMBA has been the subject of several research reports. Morgan Stanley upgraded Ambarella from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.71 to $55.00 in a report on Tuesday, March 29th. Oppenheimer Holdings Inc. initiated coverage on Ambarella in a report on Thursday, April 7th. They set a “market perform” rating for the company. Deutsche Bank AG lifted their price target on Ambarella from $45.00 to $47.00 and gave the company a “hold” rating in a report on Monday, June 6th. Pacific Crest reiterated an “overweight” rating and set a $53.00 price target on shares of Ambarella in a report on Monday, June 6th. Finally, Zacks Investment Research lowered Ambarella from a “hold” rating to a “sell” rating in a report on Friday, June 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $70.26.

The stock has a market cap of $1.68 billion and a price-to-earnings ratio of 29.01. The stock’s 50 day moving average price is $46.94 and its 200-day moving average price is $43.82.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, June 2nd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. During the same period last year, the company posted $0.71 earnings per share. The company had revenue of $57.20 million for the quarter, compared to analyst estimates of $56.26 million. The business’s revenue for the quarter was down 19.7% on a year-over-year basis. On average, equities analysts predict that Ambarella Inc. will post $2.37 EPS for the current year.

In other news, Director Christopher B. Paisley sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $51.96, for a total value of $51,960.00. Following the completion of the sale, the director now directly owns 8,861 shares of the company’s stock, valued at $460,417.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Day sold 1,173 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $50.85, for a total value of $59,647.05. Following the completion of the sale, the vice president now directly owns 23,532 shares of the company’s stock, valued at $1,196,602.20. The disclosure for this sale can be found here.

Several hedge funds have added to or reduced their stakes in AMBA. State of New Jersey Common Pension Fund D acquired a new stake in Ambarella during the fourth quarter worth about $18,952,000. Greenleaf Trust acquired a new stake in Ambarella during the fourth quarter worth about $6,925,000. Morgan Stanley boosted its stake in Ambarella by 12.3% in the fourth quarter. Morgan Stanley now owns 780,760 shares of the company’s stock worth $43,519,000 after buying an additional 85,621 shares during the last quarter. Russell Frank Co boosted its stake in Ambarella by 341.1% in the fourth quarter. Russell Frank Co now owns 89,889 shares of the company’s stock worth $5,090,000 after buying an additional 69,510 shares during the last quarter. Finally, Messner & Smith Theme Value Investment Management Ltd. CA acquired a new stake in Ambarella during the fourth quarter worth about $1,640,000.

Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company’s system-on-a-chip (SoC) designs HD video processing, image processing, audio processing and system functions onto a single chip, delivering video and image.

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