Ambarella’s (AMBA) “Buy” Rating Reiterated at Rosenblatt Securities

Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They presently have a $115.00 target price on the semiconductor company’s stock. Rosenblatt Securities’ price target points to a potential upside of 22.80% from the company’s previous close.

AMBA has been the topic of a number of other research reports. Consumer Edge reiterated a “buy” rating on shares of Ambarella in a research report on Friday. Stifel Nicolaus set a $90.00 price objective on Ambarella in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ambarella presently has an average rating of “Moderate Buy” and an average target price of $94.75.

Ambarella Stock Performance

Shares of Ambarella stock opened at $93.65 on Tuesday. The firm has a 50-day simple moving average of $63.13 and a two-hundred day simple moving average of $68.36. Ambarella has a fifty-two week low of $48.30 and a fifty-two week high of $96.69. The company has a market cap of $4.11 billion, a P/E ratio of -52.61 and a beta of 2.17.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Ambarella had a negative return on equity of 12.16% and a negative net margin of 19.42%.The firm had revenue of $100.87 million for the quarter, compared to analysts’ expectations of $100.17 million. During the same period last year, the firm earned $0.11 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts forecast that Ambarella will post -1.27 EPS for the current year.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 2,155 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $54.14, for a total transaction of $116,671.70. Following the completion of the transaction, the vice president owned 167,941 shares in the company, valued at $9,092,325.74. This represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chan W. Lee sold 3,641 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $54.14, for a total transaction of $197,123.74. Following the completion of the transaction, the insider directly owned 160,049 shares in the company, valued at $8,665,052.86. This represents a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 103,899 shares of company stock worth $5,921,677 over the last three months. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Ambarella by 2.1% in the 1st quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company’s stock valued at $3,258,000 after purchasing an additional 1,307 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Ambarella by 44.1% during the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 286 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Ambarella by 126.6% during the first quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock worth $4,272,000 after buying an additional 47,414 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Ambarella by 34.6% during the first quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock worth $344,000 after buying an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Ambarella by 48.1% in the first quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock valued at $1,288,000 after buying an additional 8,306 shares during the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.