Ambarella’s (AMBA) “Outperform” Rating Reiterated at Northland Securities

Northland Securities restated their outperform rating on shares of Ambarella (NASDAQ:AMBA) in a report released on Wednesday,Benzinga reports. Northland Securities currently has a $95.00 price target on the semiconductor company’s stock, up from their prior price target of $75.00.

Other analysts have also recently issued research reports about the stock. Bank of America upped their price target on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Susquehanna lowered their target price on Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a report on Monday, October 21st. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Finally, Westpark Capital reiterated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambarella presently has a consensus rating of “Hold” and a consensus target price of $81.67.

Ambarella Stock Performance

NASDAQ:AMBA opened at $71.55 on Wednesday. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $81.32. The company has a 50 day simple moving average of $59.27 and a two-hundred day simple moving average of $55.31. The company has a market capitalization of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 62.38% and a negative return on equity of 23.52%. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the prior year, the company posted ($0.76) earnings per share. Ambarella’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts predict that Ambarella will post -3 EPS for the current year.

Insider Buying and Selling at Ambarella

In other Ambarella news, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares in the company, valued at approximately $45,016,215.48. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,423 shares of company stock valued at $1,356,402. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMBA. Meeder Asset Management Inc. bought a new stake in Ambarella in the 2nd quarter worth about $26,000. Blue Trust Inc. boosted its stake in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after buying an additional 321 shares during the last quarter. CWM LLC grew its holdings in shares of Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Signaturefd LLC increased its position in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 526 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 842 shares during the period. 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.