Ambarella’s (AMBA) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Ambarella (NASDAQ:AMBA) in a report published on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $100.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on AMBA. Morgan Stanley lifted their price target on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Susquehanna lifted their price target on shares of Ambarella from $95.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. StockNews.com cut shares of Ambarella from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Needham & Company LLC lifted their price target on shares of Ambarella from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America upgraded shares of Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.67.

Ambarella Stock Down 2.2 %

Shares of NASDAQ AMBA opened at $61.43 on Thursday. The company’s fifty day moving average is $76.07 and its 200-day moving average is $65.05. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -15.91 and a beta of 1.66. Ambarella has a twelve month low of $39.69 and a twelve month high of $85.15.

Insider Buying and Selling at Ambarella

In other Ambarella news, VP Christopher Day sold 1,278 shares of Ambarella stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $71.61, for a total value of $91,517.58. Following the sale, the vice president now directly owns 17,188 shares in the company, valued at approximately $1,230,832.68. The trade was a 6.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Chan W. Lee sold 1,488 shares of Ambarella stock in a transaction 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 $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. In the last three months, insiders have sold 25,861 shares of company stock worth $1,945,436. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBA. Tributary Capital Management LLC increased its stake in shares of Ambarella by 15.4% during the 4th quarter. Tributary Capital Management LLC now owns 287,565 shares of the semiconductor company’s stock worth $20,917,000 after purchasing an additional 38,380 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Ambarella by 592.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,883 shares of the semiconductor company’s stock worth $1,460,000 after purchasing an additional 22,144 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Ambarella during the 4th quarter worth about $553,000. Mirabella Financial Services LLP acquired a new position in shares of Ambarella during the 3rd quarter worth about $1,530,000. Finally, FMR LLC increased its stake in shares of Ambarella by 185.4% during the 3rd quarter. FMR LLC now owns 17,102 shares of the semiconductor company’s stock worth $965,000 after purchasing an additional 11,110 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.