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

Ambarella (NASDAQ:AMBA)‘s stock had its “outperform” rating reiterated by Northland Securities in a report released on Wednesday,Benzinga reports. They presently have a $95.00 price objective on the semiconductor company’s stock, up from their previous price objective of $75.00. Northland Securities’ price objective suggests a potential upside of 38.87% from the stock’s previous close.

A number of other equities research analysts have also weighed in on AMBA. Westpark Capital restated a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Monday, August 26th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. TD Cowen upped their price target on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Bank of America upped their price target on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, Susquehanna reduced their price target on Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.67.

Ambarella Stock Up 1.7 %

Shares of AMBA stock opened at $68.41 on Wednesday. The firm has a market capitalization of $2.82 billion, a P/E ratio of -15.84 and a beta of 1.63. Ambarella has a twelve month low of $39.69 and a twelve month high of $69.55. The stock’s fifty day simple moving average is $58.23 and its 200 day simple moving average is $54.89.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. Ambarella’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.76) EPS. As a group, equities research analysts expect that Ambarella will post -3 EPS for the current fiscal year.

Insider Activity at Ambarella

In other news, CEO Feng-Ming Wang sold 4,382 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total value of $245,479.64. Following the completion of the sale, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at $45,016,215.48. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the sale, the vice president now directly owns 62,026 shares of the company’s stock, valued at approximately $3,570,216.56. This trade represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock worth $1,356,402 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Ambarella during the 2nd quarter worth $26,000. Blue Trust Inc. grew its stake in shares of Ambarella by 180.3% during the 3rd quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 321 shares during the period. CWM LLC grew its stake 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 acquiring an additional 304 shares during the period. Signaturefd LLC grew its stake in shares of Ambarella by 389.6% during the 3rd quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 526 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 842 shares during the period. Institutional investors own 82.09% of the company’s stock.

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.