Ambarella (NASDAQ:AMBA) Given “Buy” Rating at Westpark Capital

Westpark Capital reaffirmed their buy rating on shares of Ambarella (NASDAQ:AMBA) in a report published on Monday, Benzinga reports. The firm currently has a $85.00 price objective on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on AMBA. Roth Mkm dropped their price objective on shares of Ambarella from $65.00 to $60.00 and set a neutral rating for the company in a research report 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 lowered their price objective on Ambarella from $65.00 to $55.00 and set an equal weight rating for the company in a research report on Friday, May 31st. Rosenblatt Securities restated a buy rating and set a $85.00 target price on shares of Ambarella in a research report on Friday. Finally, Needham & Company LLC reiterated a buy rating and set a $90.00 price target on shares of Ambarella in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ambarella currently has a consensus rating of Hold and an average price target of $70.92.

Ambarella Stock Performance

Shares of AMBA stock opened at $51.15 on Monday. Ambarella has a 52 week low of $39.69 and a 52 week high of $76.36. The stock has a market capitalization of $2.10 billion, a PE ratio of -12.01 and a beta of 1.59. The stock’s fifty day moving average is $52.80 and its 200-day moving average is $51.54.

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

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 2,296 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $130,389.84. Following the completion of the transaction, the vice president now owns 182,147 shares in the company, valued at $10,344,128.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Chi-Hong Ju sold 2,296 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $56.79, for a total transaction of $130,389.84. Following the completion of the transaction, the vice president now directly owns 182,147 shares of the company’s stock, valued at $10,344,128.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of 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. In the last three months, insiders have sold 20,499 shares of company stock worth $1,137,787. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its holdings in Ambarella by 22.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 590 shares in the last quarter. Creative Planning bought a new stake in shares of Ambarella during the 2nd quarter worth approximately $325,000. Cim Investment Management Inc. bought a new stake in shares of Ambarella during the 2nd quarter worth approximately $239,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after buying an additional 343,385 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares in the last quarter. 82.09% of the stock is owned by institutional investors.

About Ambarella

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.