Ambarella, Inc. (NASDAQ:AMBA) Given $63-$123 PT Range

Ambarella Inc. (NASDAQ:AMBA) opened trading today as $89.50 and is trading in the range of 89.00-95.63 today.

EnteroMedics Inc (NASDAQ:ETRM) reported 4.52 million shares have been exchanged so far while the average volume is about 1.21 million shares. For the block trade, the net money flow was $-4.29 million. In any event, unless GoPro has a product launching with a different image processing vendor, which would be a first for the company, it is looking more likely that the GoPro Hero4 Session was the company’s biggest product launch of the year. Vetr raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $122.59 target price on the stock in a research report on Wednesday, July 29th.

In a report on Tuesday night, Piper Jaffray Companies (NYSE:PJC) analysts Erinn Murphy and Christof Fischer said they slashed their price target for GoPro from $72 to $54 per share following Ambarella’s guidance last night. Previously, the analysts had a Outperform rating on the counter. The rating by the firm was issued on June 3, 2015.

There are now twelve analysts that cover AmbarellaInc stock. Around 29% of the company’s shares, which are float, are short sold.

As for passive income investors, the company pays shareholders $0.40 per share annually in dividends, yielding 1.02%. When evaluating the opinions of financial bloggers over the last 3 months, 92% of bloggers have indicated a Bullish sentiment, while 8% have indicated a Bearish sentiment. Finally, Stifel Nicolaus lifted their price objective on Ambarella from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. The total value of transaction was $492,038. Pacific Crest reiterated an “overweight” rating and issued a $123.00 target price on shares of Ambarella in a research note on Friday, July 17th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the analysts’ consensus estimate of $0.81 by $0.07. The sale was disclosed in a document filed with the SEC, which is available through this link. The company has a market cap of $2,997 million and the number of outstanding shares have been calculated to be 31,341,000 shares. The 52-week low of the share price is $32.5.

Ambarella, Inc.is a developer of semiconductor processing alternatives for video that enable high definition (NASDAQ:AMBA), video capture, sharing and display. It sells solutions into the camera and infrastructure markets, with approximately 27 million system-on-a-chips (SoCs) shipped since our inception. In the camera market, its platform enables the creation of high-quality video content in wearable sports cameras, automotive aftermarket cameras, professional and consumer Internet Protocol (IP), security cameras, telepresence cameras and unmanned aerial vehicles (UAVs). In the infrastructure market, its solutions manage IP video traffic, broadcast encoding and IP video delivery applications.

Why GoPro is doing just fineFirst, consider that Ambarella’s impending decline in wearable camera revenue isn’t from a lack of demand for its products, but rather due to the earlier-than-usual launches of several large new products in fiscal Q2.