Ambarella’s (AMBA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Ambarella (NASDAQ:AMBA) in a research report report published on Thursday,Benzinga reports. The firm currently has a $100.00 target price on the semiconductor company’s stock.

A number of other equities research analysts also recently issued reports on AMBA. Stifel Nicolaus upped their price target on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Needham & Company LLC upped their price target on shares of 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 target (up previously from $75.00) on shares of Ambarella in a research note on Wednesday, November 27th. Bank of America raised shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Monday, December 16th. Finally, Craig Hallum upped their price target on shares of Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $62.92 on Thursday. The firm has a fifty day moving average price of $76.37 and a 200 day moving average price of $64.94. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $85.15. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -16.30 and a beta of 1.66.

Insider Activity

In other news, VP Christopher Day sold 1,278 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the transaction, the vice president now directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. This represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hsiao-Wuen Hon sold 377 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.15, for a total transaction of $27,954.55. Following the completion of the transaction, the director now owns 28,278 shares in the company, valued at approximately $2,096,813.70. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,861 shares of company stock valued at $1,945,436. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its holdings in shares of Ambarella by 3.2% in the fourth quarter. Mackenzie Financial Corp now owns 6,406 shares of the semiconductor company’s stock worth $466,000 after purchasing an additional 201 shares during the last quarter. Castleark Management LLC bought a new position in shares of Ambarella in the fourth quarter worth about $2,325,000. Woodline Partners LP grew its holdings in shares of Ambarella by 2,367.1% in the fourth quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock worth $19,155,000 after purchasing an additional 252,659 shares during the last quarter. Tidal Investments LLC bought a new position in Ambarella during the 4th quarter worth about $444,000. Finally, Sender Co & Partners Inc. grew its holdings in Ambarella by 49.6% during the 4th quarter. Sender Co & Partners Inc. now owns 12,752 shares of the semiconductor company’s stock worth $928,000 after acquiring an additional 4,230 shares in the last quarter. 82.09% of the stock is currently 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.