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

Ambarella (NASDAQ:AMBA - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $100.00 price objective on the semiconductor company's stock. Rosenblatt Securities' price objective would suggest a potential upside of 76.03% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Susquehanna increased their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. Needham & Company LLC upped their price target on Ambarella from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday. Bank of America upgraded shares of Ambarella from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Monday, December 16th. Northland Securities restated an "outperform" rating and set a $95.00 price target (up from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus raised their target price on shares of Ambarella from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Ambarella presently has an average rating of "Moderate Buy" and an average target price of $86.67.

Ambarella Trading Down 7.5 %

Shares of AMBA traded down $4.62 during trading hours on Thursday, reaching $56.81. The company had a trading volume of 1,521,161 shares, compared to its average volume of 839,743. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -14.72 and a beta of 1.66. Ambarella has a 12-month low of $39.69 and a 12-month high of $85.15. The firm has a 50 day simple moving average of $76.07 and a 200-day simple moving average of $65.32.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $73.80, for a total transaction of $110,700.00. Following the sale, the director now owns 40,781 shares in the company, valued at approximately $3,009,637.80. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Chan W. Lee sold 1,488 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $75.41, for a total transaction of $112,210.08. Following the completion of the sale, the chief operating officer now owns 119,918 shares in the company, valued at approximately $9,043,016.38. The trade was a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,583 shares of company stock valued at $1,853,918 in the last three months. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ambarella in the 4th quarter valued at about $452,000. Mackenzie Financial Corp raised its position in shares of Ambarella by 3.2% during 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 period. Castleark Management LLC acquired a new stake in Ambarella in the 4th quarter valued at $2,325,000. Woodline Partners LP increased its stake in 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. Finally, Tidal Investments LLC acquired a new position in Ambarella during the fourth quarter worth $444,000. Institutional investors own 82.09% of the company's stock.

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.