Ambarella’s (AMBA) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Ambarella (NASDAQ:AMBA) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $85.00 price target on the semiconductor company’s stock.

AMBA has been the topic of several other research reports. StockNews.com upgraded Ambarella to a sell rating in a report on Friday, April 26th. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price target on shares of Ambarella in a research note on Friday, May 31st. Morgan Stanley upped their price target on Ambarella from $57.00 to $67.00 and gave the company an overweight rating in a research note on Friday, May 31st. Wells Fargo & Company cut their price target on Ambarella from $65.00 to $55.00 and set an equal weight rating on the stock in a research note on Friday, May 31st. Finally, Roth Mkm cut their price target on Ambarella from $65.00 to $60.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ambarella has a consensus rating of Hold and an average price target of $69.75.

Ambarella Stock Performance

Shares of AMBA stock opened at $49.87 on Friday. The stock’s fifty day moving average is $52.90 and its 200-day moving average is $51.59. The stock has a market capitalization of $2.04 billion, a PE ratio of -11.71 and a beta of 1.59. Ambarella has a 52 week low of $39.69 and a 52 week high of $76.36.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.09. The company had revenue of $54.47 million for the quarter, compared to analysts’ expectations of $54.04 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. As a group, analysts forecast that Ambarella will post -3.35 earnings per share for the current fiscal year.

Insider Transactions at Ambarella

In other news, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the sale, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Chi-Hong Ju sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total transaction of $317,400.00. Following the sale, the vice president now owns 173,193 shares of the company’s stock, valued at $9,161,909.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold a total of 20,499 shares of company stock valued at $1,137,787 over the last 90 days. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Ambarella by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after buying an additional 29,379 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Ambarella during the fourth quarter worth about $65,543,000. Norges Bank bought a new position in shares of Ambarella during the fourth quarter worth about $23,495,000. SWS Partners grew its holdings in shares of Ambarella by 25.3% during the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after buying an additional 16,049 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Ambarella during the first quarter worth about $571,000. 82.09% of the stock is currently owned by institutional investors.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.