Ambarella, Inc. (NASDAQ:AMBA – Get Rating) VP Christopher Day sold 670 shares of Ambarella stock in a transaction on Friday, September 16th. The stock was sold at an average price of $63.25, for a total transaction of $42,377.50. Following the sale, the vice president now owns 20,731 shares of the company's stock, valued at $1,311,235.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ambarella Trading Down 3.3 %
AMBA stock traded down $2.15 during midday trading on Tuesday, hitting $62.92. The company's stock had a trading volume of 265,114 shares, compared to its average volume of 699,156. The firm's 50-day moving average is $77.51 and its 200-day moving average is $80.80. The company has a market cap of $2.42 billion, a PE ratio of -55.19 and a beta of 1.52. Ambarella, Inc. has a 12 month low of $60.50 and a 12 month high of $227.59.
Get Ambarella alerts:Ambarella (NASDAQ:AMBA – Get Rating) last issued its quarterly earnings data on Tuesday, August 30th. The semiconductor company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. The firm had revenue of $80.90 million during the quarter, compared to analyst estimates of $80.21 million. Ambarella had a negative return on equity of 6.88% and a negative net margin of 12.14%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share. Analysts expect that Ambarella, Inc. will post -1.51 earnings per share for the current year.
Institutional Investors Weigh In On Ambarella
Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new position in shares of Ambarella in the second quarter worth about $26,000. Standard Family Office LLC purchased a new stake in shares of Ambarella in the 1st quarter valued at approximately $42,000. Prospera Financial Services Inc acquired a new position in shares of Ambarella in the 1st quarter worth approximately $52,000. Private Trust Co. NA acquired a new position in shares of Ambarella in the 2nd quarter worth approximately $56,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Ambarella by 45.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 619 shares of the semiconductor company's stock worth $65,000 after buying an additional 194 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.Analyst Upgrades and Downgrades
Several equities analysts have recently commented on AMBA shares. Cowen decreased their price objective on shares of Ambarella from $180.00 to $135.00 and set an "outperform" rating on the stock in a report on Wednesday, June 1st. Wells Fargo & Company cut their target price on shares of Ambarella to $105.00 in a research report on Tuesday, September 6th. Stifel Nicolaus reduced their price target on shares of Ambarella from $100.00 to $94.00 and set a "buy" rating on the stock in a research report on Wednesday, August 31st. Needham & Company LLC cut their price target on shares of Ambarella from $175.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, June 1st. Finally, Cowen decreased their target price on shares of Ambarella from $180.00 to $135.00 in a research report on Wednesday, June 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Ambarella currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.13.
About Ambarella
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Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.
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