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

Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a report released on Friday,Benzinga reports. They presently have a $100.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 39.47% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. StockNews.com upgraded Ambarella from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. Westpark Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Roth Mkm reissued a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. Morgan Stanley lifted their price objective on shares of Ambarella from $73.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Bank of America increased their target price on shares of Ambarella from $57.00 to $65.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Ambarella currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.92.

Ambarella Trading Up 3.4 %

NASDAQ AMBA opened at $71.70 on Friday. The company has a fifty day simple moving average of $60.84 and a 200 day simple moving average of $56.15. Ambarella has a 12-month low of $39.69 and a 12-month high of $81.32. The company has a market cap of $2.96 billion, a P/E ratio of -18.58 and a beta of 1.68.

Insiders Place Their Bets

In other news, COO Chan W. Lee sold 1,490 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $79,774.60. Following the completion of the transaction, the chief operating officer now owns 121,406 shares in the company, valued at $6,500,077.24. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Day sold 483 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the sale, the vice president now owns 21,370 shares in the company, valued at $1,144,149.80. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,356 shares of company stock valued at $859,210. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of Ambarella during the 2nd quarter valued at $26,000. Blue Trust Inc. increased its position in shares of Ambarella by 180.3% during the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 321 shares during the period. CWM LLC lifted its holdings in shares of 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 in the last quarter. Signaturefd LLC boosted its position in shares of Ambarella by 389.6% in the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 526 shares during the period. Finally, Larson Financial Group LLC grew its stake in Ambarella by 6,014.3% during the third quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 842 shares in the last quarter. Hedge funds and other 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.