Ambarella (NASDAQ:AMBA) Receives Outperform Rating from Northland Securities

Northland Securities reissued their outperform rating on shares of Ambarella (NASDAQ:AMBA) in a research note released on Wednesday,Benzinga reports. Northland Securities currently has a $95.00 price objective on the semiconductor company’s stock, up from their previous price objective of $75.00.

Several other analysts have also recently commented on the stock. Roth Mkm reiterated a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Bank of America upped their target price on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Stifel Nicolaus boosted their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Westpark Capital reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.67.

Ambarella Stock Performance

Shares of Ambarella stock opened at $72.44 on Wednesday. The firm has a fifty day moving average of $58.23 and a two-hundred day moving average of $54.89. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -16.77 and a beta of 1.63. Ambarella has a 52 week low of $39.69 and a 52 week high of $81.32.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) EPS. As a group, research analysts forecast that Ambarella will post -3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Christopher Day sold 483 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the transaction, the vice president now owns 21,370 shares in the company, valued at approximately $1,144,149.80. This trade represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Alexander Young sold 2,139 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $114,522.06. Following the completion of the sale, the chief financial officer now owns 103,529 shares in the company, valued at approximately $5,542,942.66. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,423 shares of company stock worth $1,356,402. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ambarella

Large investors have recently modified their holdings of the stock. Azzad Asset Management Inc. ADV grew its stake 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 buying an additional 231 shares during the last quarter. Versor Investments LP grew its position in shares of Ambarella by 5.9% in the third quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 256 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock worth $269,000 after purchasing an additional 285 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after purchasing an additional 288 shares during the period. Finally, CWM LLC boosted its stake in Ambarella by 127.7% in 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 during the period. 82.09% of the stock is owned by 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.