Northland Securities reiterated their buy rating on shares of Ambarella (NASDAQ:AMBA) in a research note issued to investors on Monday, AnalystRatings.com reports. They currently have a $45.00 price target on the semiconductor company’s stock.
“We understand 3-5 are moving into mass production. The potential US sales ban to Hikvision and Dauha (roughly 20-25% of revenue) is also causing these customers to pull in orders forward into FY20:Q2 (Jul). If trade issues break in AMBA’s favor the Company could gain substantial market share. We estimate that their professional camera revenue was $90M in CY18. With its strong product offering, a 2x increase in selling price over the prior generation of chips, and diminished Huawei we estimate FY21 (Jan) AMBA’s professional camera revenue could be $200M-$250M. Assume the rest of the business declines by 10% our FY21/CY20 revenue estimate would be $315M-$365M substantially above our current estimate of $255M.”,” Northland Securities’ analyst commented.
Several other research analysts also recently issued reports on the company. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Needham & Company LLC restated a hold rating on shares of GrubHub in a report on Wednesday, June 5th. Bank of America set a $4.00 price target on GameStop and gave the stock a sell rating in a report on Wednesday, June 5th. TheStreet cut Resolute Forest Products from a b- rating to a c+ rating in a report on Wednesday, June 12th. Finally, ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Ambarella currently has a consensus rating of Hold and a consensus target price of $45.88.
In other Ambarella news, VP Christopher Day sold 2,490 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $43.98, for a total value of $109,510.20. Following the sale, the vice president now directly owns 8,604 shares of the company’s stock, valued at $378,403.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $41.93, for a total value of $41,930.00. Following the completion of the sale, the director now directly owns 21,621 shares in the company, valued at $906,568.53. The disclosure for this sale can be found here. Insiders have sold 15,201 shares of company stock worth $655,716 over the last three months. Insiders own 6.31% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AMBA. First National Bank of Omaha lifted its stake in shares of Ambarella by 2.5% during the 2nd quarter. First National Bank of Omaha now owns 25,217 shares of the semiconductor company’s stock worth $1,113,000 after acquiring an additional 622 shares during the last quarter. Scout Investments Inc. increased its holdings in shares of Ambarella by 65.9% in the 2nd quarter. Scout Investments Inc. now owns 118,992 shares of the semiconductor company’s stock valued at $5,251,000 after acquiring an additional 47,249 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Ambarella by 19.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 627,373 shares of the semiconductor company’s stock valued at $27,102,000 after acquiring an additional 104,153 shares during the period. First Trust Advisors LP increased its holdings in shares of Ambarella by 5.9% in the 1st quarter. First Trust Advisors LP now owns 16,783 shares of the semiconductor company’s stock valued at $725,000 after acquiring an additional 935 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Ambarella in the 1st quarter worth $119,000. Institutional investors own 74.81% of the company’s stock.
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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