Ambarella’s (AMBA) “Neutral” Rating Reaffirmed at Roth Mkm

Ambarella (NASDAQ:AMBA)‘s stock had its “neutral” rating reiterated by research analysts at Roth Mkm in a report released on Wednesday, Benzinga reports. They presently have a $60.00 price target on the semiconductor company’s stock. Roth Mkm’s price target suggests a potential upside of 1.13% from the company’s previous close.

A number of other equities analysts have also commented on the company. Bank of America lifted their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen boosted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Ambarella presently has an average rating of “Hold” and a consensus target price of $73.85.

Ambarella Trading Up 12.4 %

Ambarella stock traded up $6.54 during trading hours on Wednesday, reaching $59.33. 3,471,266 shares of the company were exchanged, compared to its average volume of 609,041. Ambarella has a 12 month low of $39.69 and a 12 month high of $76.36. The stock has a 50-day moving average of $52.75 and a 200 day moving average of $51.52. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -14.19 and a beta of 1.59.

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

Insider Buying and Selling

In other Ambarella news, VP Christopher Day sold 1,408 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ambarella news, VP Chi-Hong Ju sold 1,895 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.50, for a total transaction of $108,962.50. Following the transaction, the vice president now owns 180,252 shares of the company’s stock, valued at approximately $10,364,490. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction on 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 sale, the vice president now directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold a total of 20,499 shares of company stock worth $1,137,787 in the last three months. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

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

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.