Ambarella (NASDAQ:AMBA) Earns “Buy” Rating from Rosenblatt Securities

Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report released on Monday,Benzinga reports. They currently have a $120.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ price target points to a potential upside of 69.90% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on AMBA. Northland Securities set a $101.00 price target on shares of Ambarella in a research report on Wednesday, June 17th. Consumer Edge reissued a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Stifel Nicolaus set a $106.00 price objective on Ambarella in a research note on Friday, May 29th. Susquehanna lifted their price objective on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Finally, Bank of America increased their target price on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.86.

Ambarella Stock Performance

NASDAQ:AMBA opened at $70.63 on Monday. Ambarella has a 52 week low of $48.30 and a 52 week high of $96.69. The firm’s 50-day simple moving average is $74.23 and its 200 day simple moving average is $68.22. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -43.87 and a beta of 2.12.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Ambarella had a negative net margin of 17.18% and a negative return on equity of 10.94%. The firm had revenue of $100.36 million during the quarter, compared to the consensus estimate of $100.12 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. Sell-side analysts anticipate that Ambarella will post -1.13 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John Alexander Young sold 5,033 shares of Ambarella stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.54, for a total value of $339,928.82. Following the transaction, the chief financial officer owned 112,590 shares in the company, valued at approximately $7,604,328.60. This trade represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chan W. Lee sold 2,951 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total value of $200,284.37. Following the transaction, the insider directly owned 157,098 shares of the company’s stock, valued at $10,662,241.26. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,519 shares of company stock valued at $4,595,475 over the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMBA. Main Management ETF Advisors LLC grew its position in shares of Ambarella by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the semiconductor company’s stock worth $1,220,000 after buying an additional 176 shares during the period. National Bank of Canada FI boosted its stake in Ambarella by 18.9% during the third quarter. National Bank of Canada FI now owns 1,146 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 182 shares in the last quarter. Natixis Advisors LLC grew its holdings in Ambarella by 1.5% in the third quarter. Natixis Advisors LLC now owns 13,721 shares of the semiconductor company’s stock worth $1,132,000 after purchasing an additional 204 shares during the period. Mariner LLC increased its stake in Ambarella by 2.6% in the third quarter. Mariner LLC now owns 8,574 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 219 shares in the last quarter. Finally, Essential Partners LLC increased its stake in Ambarella by 90.1% in the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Ambarella

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.