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

Ambarella (NASDAQ:AMBA)‘s stock had its “buy” rating reissued by equities researchers at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They currently have a $100.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 31.91% from the stock’s current price.

AMBA has been the subject of several other research reports. Craig Hallum upped their price target on Ambarella from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley upped their price target on Ambarella from $73.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Bank of America raised Ambarella from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, December 16th. StockNews.com cut Ambarella from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $95.00 price target (up previously from $75.00) on shares of Ambarella in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ambarella currently has an average rating of “Moderate Buy” and a consensus target price of $86.25.

Ambarella Stock Performance

NASDAQ AMBA opened at $75.81 on Thursday. Ambarella has a twelve month low of $39.69 and a twelve month high of $85.15. The stock has a market capitalization of $3.16 billion, a PE ratio of -19.64 and a beta of 1.66. The stock has a 50-day simple moving average of $76.37 and a 200 day simple moving average of $64.94.

Insider Buying and Selling

In related news, CTO Leslie Kohn sold 1,757 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $75.41, for a total transaction of $132,495.37. Following the sale, the chief technology officer now directly owns 959,676 shares in the company, valued at $72,369,167.16. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chan W. Lee sold 1,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the transaction, the chief operating officer now owns 116,918 shares in the company, valued at $9,254,059.70. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,861 shares of company stock worth $1,945,436 in the last three months. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMBA. Creative Planning boosted its position in Ambarella by 144.0% in the 3rd quarter. Creative Planning now owns 14,719 shares of the semiconductor company’s stock valued at $830,000 after buying an additional 8,687 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Ambarella by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 321 shares during the period. Signaturefd LLC lifted its stake in shares of Ambarella by 389.6% in the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares during the period. SteelPeak Wealth LLC lifted its stake in shares of Ambarella by 45.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 12,204 shares of the semiconductor company’s stock valued at $688,000 after purchasing an additional 3,819 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Ambarella by 20.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 501,036 shares of the semiconductor company’s stock valued at $28,261,000 after purchasing an additional 83,752 shares during the period. 82.09% of the stock is currently 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.