Rosenblatt Securities Reaffirms “Buy” Rating for Ambarella (NASDAQ:AMBA)

Rosenblatt Securities restated 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 price target on the semiconductor company’s stock.

A number of other research firms have also recently weighed in on AMBA. Stifel Nicolaus raised their price target on shares of Ambarella from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Northland Securities restated an “outperform” rating and issued a $95.00 price target (up from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. Finally, Needham & Company LLC raised their price target on shares of Ambarella from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Ambarella Price Performance

Shares of Ambarella stock opened at $62.92 on Thursday. Ambarella has a 1 year low of $39.69 and a 1 year high of $85.15. The firm’s 50-day moving average is $76.37 and its two-hundred day moving average is $64.94. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -16.30 and a beta of 1.66.

Insider Activity at Ambarella

In related news, CEO Feng-Ming Wang sold 4,296 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $75.41, for a total value of $323,961.36. Following the completion of the transaction, the chief executive officer now directly owns 755,231 shares of the company’s stock, valued at $56,951,969.71. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher Day sold 1,278 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $71.61, for a total transaction of $91,517.58. Following the transaction, the vice president now directly owns 17,188 shares of the company’s stock, valued at $1,230,832.68. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,861 shares of company stock valued at $1,945,436 in the last three months. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ambarella

A number of institutional investors have recently bought and sold shares of AMBA. Fuller & Thaler Asset Management Inc. purchased a new position in Ambarella during the 4th quarter worth approximately $52,770,000. Point72 Asset Management L.P. raised its position in Ambarella by 70.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 862,084 shares of the semiconductor company’s stock worth $48,626,000 after buying an additional 355,078 shares during the last quarter. Invesco Ltd. raised its position in Ambarella by 736.7% during the 4th quarter. Invesco Ltd. now owns 335,730 shares of the semiconductor company’s stock worth $24,421,000 after buying an additional 295,606 shares during the last quarter. Barclays PLC raised its position in Ambarella by 281.3% during the 3rd quarter. Barclays PLC now owns 388,090 shares of the semiconductor company’s stock worth $21,891,000 after buying an additional 286,296 shares during the last quarter. Finally, Woodline Partners LP increased its holdings in shares of Ambarella by 2,367.1% during the 4th quarter. Woodline Partners LP now owns 263,333 shares of the semiconductor company’s stock valued at $19,155,000 after purchasing an additional 252,659 shares in the last quarter. 82.09% of the stock is 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.