Northland Securities Reaffirms Outperform Rating for Ambarella (NASDAQ:AMBA)

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

Several other brokerages have also recently commented on AMBA. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Stifel Nicolaus boosted their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. TD Cowen boosted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Westpark Capital reissued a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $81.67.

Ambarella Stock Performance

Shares of NASDAQ AMBA opened at $72.44 on Wednesday. The business has a fifty day moving average of $58.93 and a two-hundred day moving average of $55.13. Ambarella has a 52-week low of $39.69 and a 52-week high of $81.32. The stock has a market cap of $2.99 billion, a PE ratio of -16.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter in the prior year, the firm earned ($0.76) EPS. The company’s revenue was up 2.6% on a year-over-year basis. Analysts predict that Ambarella will post -3 earnings per share for the current year.

Insider Activity

In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total transaction of $343,230.28. Following the transaction, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $245,479.64. Following the completion of the transaction, the chief executive officer now owns 803,574 shares in the company, valued at $45,016,215.48. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,423 shares of company stock worth $1,356,402 in the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Ambarella by 6.1% during 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. Price T Rowe Associates Inc. MD increased its stake in Ambarella by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the semiconductor company’s stock valued at $1,045,000 after purchasing an additional 1,502 shares in the last quarter. Virtu Financial LLC increased its stake in Ambarella by 134.2% during the 1st quarter. Virtu Financial LLC now owns 13,837 shares of the semiconductor company’s stock valued at $702,000 after purchasing an additional 7,928 shares in the last quarter. CWM LLC raised its holdings in Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of Ambarella by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after buying an additional 288 shares in the last quarter. Hedge funds and other 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.