Ambarella (NASDAQ:AMBA) Shares Up 3.2%

Ambarella, Inc. (NASDAQ:AMBA) shot up 3.2% on Thursday . The stock traded as high as $55.78 and last traded at $55.63. 47,486 shares were traded during trading, a decline of 92% from the average session volume of 620,258 shares. The stock had previously closed at $53.89.

Wall Street Analysts Forecast Growth

AMBA has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Ambarella in a report on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research report on Monday, August 26th. Wells Fargo & Company reduced their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. Finally, Bank of America raised their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.00.

Ambarella Stock Down 2.5 %

The business has a fifty day moving average of $52.07 and a 200 day moving average of $51.52. The firm has a market cap of $2.23 billion, a P/E ratio of -12.77 and a beta of 1.63.

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

Insider Transactions at Ambarella

In related news, VP Chi-Hong Ju sold 6,000 shares of Ambarella stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total value of $317,400.00. Following the transaction, the vice president now directly owns 173,193 shares of the company’s stock, valued at $9,161,909.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Feng-Ming Wang sold 4,301 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $230,275.54. Following the completion of the sale, the chief executive officer now owns 799,527 shares in the company, valued at $42,806,675.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Chi-Hong Ju sold 6,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total transaction of $317,400.00. Following the completion of the sale, the vice president now owns 173,193 shares of the company’s stock, valued at approximately $9,161,909.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,014 shares of company stock worth $1,542,210. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in shares of Ambarella by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 299,062 shares of the semiconductor company’s stock worth $18,330,000 after purchasing an additional 4,593 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ambarella by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after buying an additional 29,379 shares in the last quarter. Norges Bank bought a new stake in shares of Ambarella during the 4th quarter worth $23,495,000. Trexquant Investment LP purchased a new position in Ambarella in the fourth quarter worth $3,176,000. Finally, Edmond DE Rothschild Holding S.A. increased its stake in Ambarella by 1,181.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 10,920 shares of the semiconductor company’s stock valued at $669,000 after acquiring an additional 10,068 shares during the last quarter. 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.