Ambarella’s (AMBA) “Outperform” Rating Reiterated at Northland Securities

Ambarella (NASDAQ:AMBA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Northland Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $95.00 price target on the semiconductor company’s stock, up from their previous price target of $75.00. Northland Securities’ target price suggests a potential upside of 31.14% from the stock’s previous close.

AMBA has been the subject of several other reports. Westpark Capital reissued a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Bank of America increased their target price on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Susquehanna dropped their price target on Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Finally, Morgan Stanley raised their target price on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Two research 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 MarketBeat.com, Ambarella presently has a consensus rating of “Hold” and an average target price of $81.67.

Ambarella Trading Up 5.9 %

Shares of AMBA stock opened at $72.44 on Wednesday. Ambarella has a 12-month low of $39.69 and a 12-month high of $81.32. The stock has a market capitalization of $2.99 billion, a P/E ratio of -16.77 and a beta of 1.63. The firm’s 50 day moving average is $58.93 and its 200 day moving average is $55.13.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (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 analyst estimates of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) earnings per share. As a group, equities analysts predict that Ambarella will post -3 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Feng-Ming Wang sold 4,382 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the transaction, the chief executive officer now owns 803,574 shares of the company’s stock, valued at approximately $45,016,215.48. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 2,904 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now owns 18,466 shares in the company, valued at $1,071,028. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,423 shares of company stock valued at $1,356,402 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMBA. Point72 Asset Management L.P. grew its position in Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after acquiring an additional 476,406 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Barclays PLC increased its stake in Ambarella by 281.3% in 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 period. Marshall Wace LLP lifted its holdings in Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after buying an additional 250,778 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after buying an additional 248,297 shares during the period. Institutional investors own 82.09% of the company’s stock.

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.