Ambarella (NASDAQ:AMBA) Trading Down 0.4%

Ambarella, Inc. (NASDAQ:AMBA)’s stock price was down 0.4% during mid-day trading on Wednesday . The stock traded as low as $53.96 and last traded at $54.10. Approximately 51,926 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 621,261 shares. The stock had previously closed at $54.32.

Wall Street Analyst Weigh In

AMBA has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Craig Hallum lifted their price objective on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a report on Wednesday, August 28th. Wells Fargo & Company dropped 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. Finally, Bank of America raised their price objective on shares of Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.58.

Ambarella Stock Down 0.4 %

The company has a market capitalization of $2.22 billion, a P/E ratio of -12.70 and a beta of 1.63. The business has a 50 day moving average of $52.47 and a 200 day moving average of $51.49.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the previous year, the business posted ($0.76) earnings per share. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Ambarella, Inc. will post -2.99 EPS for the current year.

Insiders Place Their Bets

In other news, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ambarella news, CEO Feng-Ming Wang sold 4,382 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were 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 owns 803,574 shares of the company’s stock, valued at $45,016,215.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold 26,653 shares of company stock valued at $1,487,144 over the last ninety days. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Ambarella

A number of large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Ambarella during the second quarter worth $26,000. CWM LLC lifted its holdings in Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares in the last quarter. Van ECK Associates Corp boosted its position in Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 552 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock worth $90,000 after buying an additional 1,765 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Ambarella by 22.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 590 shares during the period. Hedge funds and other institutional investors 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.