Ambarella’s (AMBA) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Ambarella (NASDAQ:AMBA) in a research report released on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $120.00 price target on the semiconductor company’s stock.

AMBA has been the topic of a number of other research reports. Stifel Nicolaus set a $106.00 price objective on shares of Ambarella in a report on Friday, May 29th. Susquehanna upped their price objective on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Bank of America raised their target price on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Consumer Edge reaffirmed a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. Finally, Northland Securities set a $101.00 price target on Ambarella in a research note on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ambarella has a consensus rating of “Hold” and a consensus price target of $101.86.

Ambarella Trading Down 1.0%

NASDAQ AMBA opened at $67.14 on Monday. The company’s fifty day simple moving average is $74.33 and its 200-day simple moving average is $68.25. Ambarella has a 52 week low of $48.30 and a 52 week high of $96.69. The stock has a market cap of $2.95 billion, a P/E ratio of -41.70 and a beta of 2.09.

Insider Buying and Selling at Ambarella

In related news, VP Yun-Lung Chen sold 5,958 shares of Ambarella stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $78.66, for a total value of $468,656.28. Following the completion of the sale, the vice president owned 60,557 shares in the company, valued at approximately $4,763,413.62. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Feng-Ming Wang sold 16,250 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $90.08, for a total transaction of $1,463,800.00. Following the completion of the sale, the chief executive officer directly owned 773,607 shares in the company, valued at $69,686,518.56. This represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 58,519 shares of company stock valued at $4,595,475. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Ambarella by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 5,480,285 shares of the semiconductor company’s stock worth $388,223,000 after purchasing an additional 311,649 shares in the last quarter. California State Teachers Retirement System raised its stake in Ambarella by 8,490.9% during the second quarter. California State Teachers Retirement System now owns 4,116,598 shares of the semiconductor company’s stock valued at $353,204,000 after buying an additional 4,068,680 shares in the last quarter. State Street Corp raised its stake in Ambarella by 8.9% during the second quarter. State Street Corp now owns 1,855,170 shares of the semiconductor company’s stock valued at $122,562,000 after buying an additional 151,694 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in Ambarella by 30.8% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock worth $112,429,000 after buying an additional 373,734 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Ambarella by 49.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock worth $81,644,000 after buying an additional 524,937 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.