Semiconductor company Ambarella has had its price target lowered by Susquehanna analysts from $80.00 to $70.00. The firm, which currently rates Ambarella’s stock as “positive,” suggests a potential upside of 22.08% from the company’s previous close. Other research analysts have also recently issued reports on the stock, with Needham & Company LLC maintaining a “buy” rating and a target price of $90.00. Bank of America, on the other hand, increased its target price from $50.00 to $57.00 and gave the stock an “underperform” rating.

In the latest quarterly earnings results, Ambarella reported earnings per share (EPS) of ($0.13), surpassing the consensus estimate of ($0.19) by $0.06. The company had a negative net margin of 79.46% and a negative return on equity of 26.01%. Revenue for the quarter was $63.70 million, slightly higher than the consensus estimate of $62.10 million.

Insider trading activity has also been observed, with VP Christopher Day selling 2,904 shares of Ambarella stock at an average price of $58.00. Following the sale, Day now holds 18,466 shares of the company’s stock. CEO Feng-Ming Wang also sold 4,382 shares at an average price of $56.02, reducing their position in the company.

Institutional investors and hedge funds have shown interest in Ambarella, with Vanguard Group Inc. increasing its stake by 1.7% and Counterpoint Mutual Funds LLC acquiring a new stake in the company. Other investors, such as Hennion & Walsh Asset Management Inc., SteelPeak Wealth LLC, and Tributary Capital Management LLC, have also increased their holdings.

While Ambarella currently has a consensus rating of “Hold” and an average target price of $74.09, the recent price target cut by Susquehanna analysts may impact investor sentiment. The company is expected to post a negative EPS of -3 for the current fiscal year.