Ambarella (NASDAQ:AMBA) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Ambarella (NASDAQ:AMBA – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the semiconductor company’s stock.

AMBA has been the subject of a number of other reports. Roth Capital cut Ambarella from a “buy” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Wednesday, March 1st. Imperial Capital cut Ambarella from an “outperform” rating to an “in-line” rating in a report on Wednesday, March 1st. Jefferies Financial Group lowered their target price on Ambarella from $104.00 to $96.00 in a report on Monday, November 21st. Cowen lowered their target price on Ambarella from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, December 2nd. Finally, Roth Mkm lowered Ambarella from a “buy” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research report on Wednesday, March 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Ambarella Price Performance

Shares of Ambarella stock opened at $76.81 on Thursday. The business has a 50-day moving average of $87.95 and a 200 day moving average of $74.20. Ambarella has a 12 month low of $49.02 and a 12 month high of $109.17. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -44.92 and a beta of 1.53.

Insider Transactions at Ambarella

In other news, VP Chi-Hong Ju sold 764 shares of the firm’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $80.46, for a total transaction of $61,471.44. Following the sale, the vice president now owns 155,689 shares of the company’s stock, valued at approximately $12,526,736.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Chi-Hong Ju sold 764 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $80.46, for a total transaction of $61,471.44. Following the transaction, the vice president now owns 155,689 shares in the company, valued at approximately $12,526,736.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Day sold 358 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $82.25, for a total value of $29,445.50. Following the transaction, the vice president now owns 17,096 shares in the company, valued at approximately $1,406,146. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,509 shares of company stock valued at $4,286,857. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Ambarella by 30.3% in the 1st quarter. US Bancorp DE now owns 2,605 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 605 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ambarella by 5.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,715 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 181 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in shares of Ambarella by 33.9% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,054 shares of the semiconductor company’s stock valued at $320,000 after purchasing an additional 774 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Ambarella by 3.9% in the 1st quarter. Rhumbline Advisers now owns 37,241 shares of the semiconductor company’s stock valued at $3,907,000 after purchasing an additional 1,395 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Ambarella by 14.9% in the 1st quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock valued at $422,620,000 after purchasing an additional 522,698 shares during the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.

Ambarella Company Profile

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Ambarella, Inc engages in the development and sale of video compression, image processing, and computer vision solutions. It offers processors and software that cater to end markets including security cameras, automotive cameras, industrial and robotic applications, and consumer applications. The company was founded by Feng Ming Wang and Leslie D.