Rosenblatt Securities Reiterates “Buy” Rating for Ambarella (NASDAQ:AMBA)

Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They currently have a $100.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 62.79% from the company’s previous close.

Several other research firms also recently commented on AMBA. StockNews.com downgraded Ambarella from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Needham & Company LLC upped their price objective on Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Northland Securities reaffirmed an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Susquehanna upped their price objective on Ambarella from $95.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, Morgan Stanley boosted their target price on Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Ambarella Stock Down 2.2 %

AMBA opened at $61.43 on Thursday. The business has a 50 day moving average price of $76.26 and a two-hundred day moving average price of $64.93. The company has a market cap of $2.56 billion, a PE ratio of -15.91 and a beta of 1.66. Ambarella has a 52 week low of $39.69 and a 52 week high of $85.15.

Insider Buying and Selling

In related news, VP Chi-Hong Ju sold 5,118 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.71, for a total value of $387,483.78. Following the sale, the vice president now owns 158,686 shares in the company, valued at $12,014,117.06. This represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Leslie Kohn sold 1,757 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total value of $132,495.37. Following the completion of the sale, the chief technology officer now owns 959,676 shares in the company, valued at approximately $72,369,167.16. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,861 shares of company stock worth $1,945,436 in the last quarter. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors and hedge funds have recently modified their holdings of AMBA. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ambarella during the 4th quarter valued at $452,000. Mackenzie Financial Corp grew its holdings in Ambarella by 3.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock valued at $466,000 after buying an additional 201 shares during the last quarter. Castleark Management LLC acquired a new stake in Ambarella during the 4th quarter valued at $2,325,000. Woodline Partners LP grew its holdings in Ambarella by 2,367.1% during the 4th quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock valued at $19,155,000 after buying an additional 252,659 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in Ambarella during the 4th quarter valued at $444,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.