Ambarella (NASDAQ:AMBA) Stock Price Down 1.8%

Ambarella, Inc. (NASDAQ:AMBA)’s stock price fell 1.8% during mid-day trading on Monday . The company traded as low as $52.16 and last traded at $52.44. 51,398 shares changed hands during trading, a decline of 92% from the average session volume of 622,216 shares. The stock had previously closed at $53.42.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMBA. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Ambarella in a research report on Friday, August 23rd. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Stifel Nicolaus raised their target price on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley raised their target price on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Bank of America lifted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.58.

Ambarella Stock Performance

The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -13.04 and a beta of 1.63. The firm has a 50-day moving average price of $52.47 and a two-hundred day moving average price of $51.49.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company 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%. The firm’s 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) earnings per share. Research analysts anticipate that Ambarella, Inc. will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Feng-Ming Wang sold 4,382 shares of the business’s 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 transaction, the chief executive officer now owns 803,574 shares of the company’s stock, valued at $45,016,215.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Feng-Ming Wang sold 4,382 shares of Ambarella 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 sale, the chief executive officer now directly owns 803,574 shares in the company, valued at $45,016,215.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Chi-Hong Ju sold 6,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total value of $317,400.00. Following the completion of the sale, the vice president now owns 173,193 shares in the company, valued at $9,161,909.70. The disclosure for this sale can be found here. Insiders have sold a total of 26,893 shares of company stock valued at $1,499,903 over the last quarter. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

A number of institutional investors have recently modified their holdings of AMBA. Northwestern Mutual Wealth Management Co. boosted its position 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 worth $177,000 after purchasing an additional 590 shares in the last quarter. Creative Planning purchased a new stake in Ambarella during the second quarter worth $325,000. Cim Investment Management Inc. purchased a new stake in shares of Ambarella in the second quarter valued at $239,000. The Manufacturers Life Insurance Company lifted its position in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after acquiring an additional 343,385 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

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.