Ambarella (NASDAQ:AMBA) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Ambarella (NASDAQ:AMBA) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $90.00 target price on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. Roth Mkm cut their target price on shares of Ambarella from $65.00 to $60.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Rosenblatt Securities restated a buy rating and set a $85.00 price objective on shares of Ambarella in a research note on Friday, August 23rd. Morgan Stanley lifted their target price on Ambarella from $57.00 to $67.00 and gave the stock an overweight rating in a research report on Friday, May 31st. TD Cowen upped their price target on Ambarella from $65.00 to $75.00 and gave the company a hold rating in a research report on Wednesday. Finally, Westpark Capital restated a buy rating and set a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $74.58.

Ambarella Stock Up 0.7 %

AMBA stock opened at $59.70 on Wednesday. The stock’s 50 day moving average is $52.97 and its two-hundred day moving average is $51.65. Ambarella has a 52-week low of $39.69 and a 52-week high of $65.88. The company has a market capitalization of $2.45 billion, a PE ratio of -14.01 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million during the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. As a group, sell-side analysts anticipate that Ambarella will post -3.35 EPS for the current year.

Insider Buying and Selling at Ambarella

In related news, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Christopher Day sold 1,408 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chi-Hong Ju sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total transaction of $317,400.00. Following the transaction, the vice president now directly owns 173,193 shares in the company, valued at approximately $9,161,909.70. The disclosure for this sale can be found here. Insiders sold 20,499 shares of company stock valued at $1,137,787 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMBA. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ambarella by 2.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 195 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in Ambarella by 2.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 231 shares during the last quarter. Sheets Smith Wealth Management boosted its position in shares of Ambarella by 4.4% during the 4th quarter. Sheets Smith Wealth Management now owns 6,588 shares of the semiconductor company’s stock valued at $404,000 after purchasing an additional 275 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after purchasing an additional 288 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. 82.09% of the stock is owned by 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.