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

Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $115.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price target points to a potential upside of 22.80% from the company’s current price.

A number of other research analysts have also weighed in on the company. Consumer Edge reissued a “buy” rating on shares of Ambarella in a report on Friday. Stifel Nicolaus set a $90.00 target price on Ambarella in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ambarella presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

Ambarella Trading Up 7.0%

NASDAQ:AMBA opened at $93.65 on Tuesday. The company has a market capitalization of $4.11 billion, a P/E ratio of -52.61 and a beta of 2.17. Ambarella has a 12 month low of $48.30 and a 12 month high of $96.69. The firm has a fifty day simple moving average of $63.13 and a 200-day simple moving average of $68.36.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. Ambarella had a negative return on equity of 12.16% and a negative net margin of 19.42%.The firm had revenue of $100.87 million for the quarter, compared to the consensus estimate of $100.17 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue was up 20.1% on a year-over-year basis. Equities analysts forecast that Ambarella will post -1.27 EPS for the current year.

Insider Buying and Selling at Ambarella

In other Ambarella news, CFO John Alexander Young sold 4,577 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $52.77, for a total value of $241,528.29. Following the sale, the chief financial officer directly owned 117,072 shares of the company’s stock, valued at approximately $6,177,889.44. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chi-Hong Ju sold 4,729 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total value of $249,549.33. Following the sale, the vice president directly owned 164,166 shares in the company, valued at $8,663,039.82. This represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 103,899 shares of company stock valued at $5,921,677. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Ambarella

Several hedge funds and other institutional investors have recently bought and sold shares of AMBA. Price T Rowe Associates Inc. MD lifted its holdings in Ambarella by 2,312.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 864,610 shares of the semiconductor company’s stock valued at $61,250,000 after acquiring an additional 828,773 shares during the period. UBS Group AG boosted its position in Ambarella by 379.3% in the 3rd quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock worth $67,811,000 after purchasing an additional 650,306 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Ambarella during the 2nd quarter worth approximately $36,810,000. The Manufacturers Life Insurance Company grew its stake in shares of Ambarella by 49.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock worth $81,644,000 after purchasing an additional 524,937 shares during the period. Finally, Barclays PLC increased its holdings in shares of Ambarella by 121.7% during the 3rd quarter. Barclays PLC now owns 775,113 shares of the semiconductor company’s stock valued at $63,962,000 after purchasing an additional 425,546 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.