Ambarella (NASDAQ:AMBA) Given Outperform Rating at Northland Securities

Northland Securities reiterated their outperform rating on shares of Ambarella (NASDAQ:AMBA) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $95.00 target price on the semiconductor company’s stock, up from their prior target price of $75.00.

A number of other brokerages have also recently issued reports on AMBA. Roth Mkm restated a “neutral” rating and issued a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Susquehanna cut their price objective on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a report on Monday, October 21st. Morgan Stanley boosted their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, TD Cowen raised their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ambarella currently has an average rating of “Hold” and an average price target of $81.67.

Ambarella Trading Down 1.2 %

NASDAQ:AMBA opened at $71.55 on Wednesday. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32. The firm’s 50 day moving average is $59.27 and its 200 day moving average is $55.31. The stock has a market capitalization of $2.95 billion, a PE ratio of -18.54 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 23.52% and a negative net margin of 62.38%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) earnings per share. Research analysts predict that Ambarella will post -3 earnings per share for the current year.

Insider Activity at Ambarella

In related news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Feng-Ming Wang sold 4,382 shares of Ambarella stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total transaction of $245,479.64. Following the sale, the chief executive officer now owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,423 shares of company stock valued at $1,356,402. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after purchasing an additional 248,297 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Ambarella by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the semiconductor company’s stock worth $1,045,000 after buying an additional 1,502 shares during the last quarter. Virtu Financial LLC lifted its position in Ambarella by 134.2% in the 1st quarter. Virtu Financial LLC now owns 13,837 shares of the semiconductor company’s stock worth $702,000 after buying an additional 7,928 shares during the last quarter. CWM LLC boosted its stake in Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in 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 buying an additional 288 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

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.