Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Declines By 6.4%

Ambarella, Inc. (NASDAQ:AMBA) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 2,210,000 shares, a decline of 6.4% from the May 31st total of 2,360,000 shares. Based on an average daily trading volume, of 614,500 shares, the short-interest ratio is currently 3.6 days.

Insider Buying and Selling at Ambarella

In other Ambarella news, VP Chi-Hong Ju sold 8,900 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the sale, the vice president now directly owns 179,193 shares of the company’s stock, valued at approximately $9,950,587.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 19,091 shares of company stock valued at $1,050,969 in the last three months. Company 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. UBS Group AG increased its stake in Ambarella by 10.2% during the 3rd quarter. UBS Group AG now owns 38,182 shares of the semiconductor company’s stock valued at $2,025,000 after purchasing an additional 3,525 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ambarella by 4.8% in the 3rd quarter. Rhumbline Advisers now owns 56,012 shares of the semiconductor company’s stock valued at $2,970,000 after acquiring an additional 2,540 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Ambarella in the 3rd quarter valued at $66,000. Northern Trust Corp boosted its holdings in shares of Ambarella by 2.3% in the 3rd quarter. Northern Trust Corp now owns 374,444 shares of the semiconductor company’s stock valued at $19,857,000 after acquiring an additional 8,587 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Ambarella by 39.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 94,605 shares of the semiconductor company’s stock valued at $5,017,000 after acquiring an additional 26,621 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Stock Up 4.6 %

NASDAQ AMBA opened at $56.10 on Wednesday. The firm has a market cap of $2.30 billion, a PE ratio of -13.17 and a beta of 1.59. The company has a 50 day moving average price of $51.19 and a 200 day moving average price of $52.95. Ambarella has a 52 week low of $40.31 and a 52 week high of $85.09.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.09. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. The business had revenue of $54.47 million for the quarter, compared to analyst estimates of $54.04 million. On average, equities research analysts anticipate that Ambarella will post -3.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMBA. Bank of America lowered their price target on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company lowered their price target on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Ambarella in a research report on Friday, May 31st. StockNews.com raised shares of Ambarella to a “sell” rating in a research report on Friday, April 26th. Finally, Morgan Stanley upped their price target on shares of Ambarella from $57.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.75.

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.