Ambarella’s (AMBA) Buy Rating Reiterated at Westpark Capital

Westpark Capital restated their buy rating on shares of Ambarella (NASDAQ:AMBA) in a research report released on Monday, Benzinga reports. They currently have a $85.00 price target on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of Ambarella from $57.00 to $67.00 and gave the company an overweight rating in a research note on Friday, May 31st. Rosenblatt Securities reissued a buy rating and issued a $85.00 price objective on shares of Ambarella in a research report on Friday. Roth Mkm cut their target price on Ambarella from $65.00 to $60.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Needham & Company LLC restated a buy rating and set a $90.00 price target on shares of Ambarella in a report on Friday, May 31st. Finally, Wells Fargo & Company dropped their target price on shares of Ambarella from $65.00 to $55.00 and set an equal weight rating on the stock in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $70.92.

Ambarella Stock Up 2.6 %

Shares of NASDAQ:AMBA opened at $51.15 on Monday. The business has a fifty day simple moving average of $52.80 and a 200 day simple moving average of $51.54. Ambarella has a 12-month low of $39.69 and a 12-month high of $76.36. The firm has a market cap of $2.10 billion, a P/E ratio of -12.01 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.09. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company had revenue of $54.47 million during the quarter, compared to the consensus estimate of $54.04 million. As a group, equities research analysts expect that Ambarella will post -3.35 EPS for the current year.

Insider Transactions at Ambarella

In related news, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Chi-Hong Ju sold 2,296 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total value of $130,389.84. Following the completion of the sale, the vice president now owns 182,147 shares in the company, valued at $10,344,128.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 1,408 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. Insiders sold a total of 20,499 shares of company stock valued at $1,137,787 over the last ninety days. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambarella

Several institutional investors have recently modified their holdings of AMBA. Kodai Capital Management LP purchased a new position in Ambarella in the fourth quarter worth $65,543,000. Point72 Asset Management L.P. raised its stake in shares of Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares during the period. Norges Bank bought a new stake in shares of Ambarella during the 4th quarter worth $23,495,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Ambarella by 36.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after buying an additional 343,385 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Ambarella by 69.2% during the second 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 during the period. 82.09% of the stock is owned by institutional investors.

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.