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

Rosenblatt Securities reissued their buy rating on shares of Ambarella (NASDAQ:AMBA) in a report released on Friday morning,Benzinga reports. They currently have a $100.00 price objective on the semiconductor company’s stock.

Other analysts have also recently issued reports about the company. Northland Securities reaffirmed an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. TD Cowen lifted their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Craig Hallum upped their price target on Ambarella from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus boosted their target price on Ambarella from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Bank of America raised their price target on Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Ambarella currently has a consensus rating of “Moderate Buy” and an average price target of $82.92.

Ambarella Trading Up 3.4 %

NASDAQ:AMBA opened at $71.70 on Friday. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32. The company has a 50-day moving average price of $60.84 and a 200-day moving average price of $56.19. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -18.58 and a beta of 1.68.

Insider Buying and Selling

In other news, VP Christopher Day sold 483 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $25,859.82. Following the transaction, the vice president now directly owns 21,370 shares in the company, valued at $1,144,149.80. This trade represents a 2.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Feng-Ming Wang sold 4,301 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $230,275.54. Following the sale, the chief executive officer now owns 799,527 shares of the company’s stock, valued at approximately $42,806,675.58. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,356 shares of company stock worth $859,210. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMBA. Point72 Asset Management L.P. lifted its stake in shares of Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Ambarella by 36.2% during the second 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. Barclays PLC increased its holdings in Ambarella by 281.3% during the third quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock valued at $21,891,000 after buying an additional 286,296 shares during the last quarter. Marshall Wace LLP raised its position in Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after acquiring an additional 250,778 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Ambarella by 230.1% during the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after acquiring an additional 120,204 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other 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.