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

Ambarella (NASDAQ:AMBA)‘s stock had its “outperform” rating reiterated by investment analysts at Northland Securities in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $95.00 price objective on the semiconductor company’s stock, up from their prior price objective of $75.00. Northland Securities’ target price points to a potential upside of 38.87% from the company’s previous close.

Several other brokerages have also recently commented on AMBA. Susquehanna reduced their price target on Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Craig Hallum increased their price target on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. TD Cowen raised their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus raised their price objective on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.67.

Ambarella Price Performance

AMBA stock opened at $68.41 on Wednesday. The stock has a market capitalization of $2.82 billion, a P/E ratio of -15.84 and a beta of 1.63. The business has a 50-day moving average of $58.23 and a 200-day moving average of $54.89. Ambarella has a fifty-two week low of $39.69 and a fifty-two week high of $69.55.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period in the prior year, the firm posted ($0.76) earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Ambarella will post -3 EPS for the current year.

Insider Transactions at Ambarella

In other Ambarella news, CFO John Alexander Young sold 2,139 shares of Ambarella stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $114,522.06. Following the completion of the transaction, the chief financial officer now directly owns 103,529 shares of the company’s stock, valued at $5,542,942.66. The trade was a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now directly owns 62,026 shares of the company’s stock, valued at $3,570,216.56. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,423 shares of company stock worth $1,356,402. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of institutional investors have recently modified their holdings of the business. Azzad Asset Management Inc. ADV raised its holdings in shares of Ambarella by 2.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock worth $539,000 after buying an additional 231 shares in the last quarter. Versor Investments LP raised its holdings in shares of Ambarella by 5.9% during the 3rd quarter. Versor Investments LP now owns 4,619 shares of the semiconductor company’s stock worth $261,000 after buying an additional 256 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ambarella by 6.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,767 shares of the semiconductor company’s stock worth $269,000 after buying an additional 285 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Ambarella by 1.7% during the 2nd 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. Finally, CWM LLC raised its holdings in shares of Ambarella by 127.7% during the 2nd 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. Institutional investors and hedge funds 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.