Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Drop in Short Interest

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

Insiders Place Their Bets

In related news, VP Chi-Hong Ju sold 6,000 shares of the business’s stock in a transaction 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 sale, the vice president now owns 173,193 shares of the company’s stock, valued at $9,161,909.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 19,091 shares of company stock valued at $1,050,969 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG lifted its stake in shares of Ambarella by 10.2% in the third 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 during the period. Rhumbline Advisers increased its stake in shares of Ambarella by 4.8% during the 3rd quarter. Rhumbline Advisers now owns 56,012 shares of the semiconductor company’s stock worth $2,970,000 after purchasing an additional 2,540 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Ambarella during the 3rd quarter valued at $66,000. Northern Trust Corp increased its position in Ambarella by 2.3% during the third quarter. Northern Trust Corp now owns 374,444 shares of the semiconductor company’s stock worth $19,857,000 after buying an additional 8,587 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Ambarella by 39.2% in the third 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 in the last quarter. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMBA. Bank of America cut their price objective on Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a report on Tuesday, April 16th. StockNews.com upgraded Ambarella to a “sell” rating in a report on Friday, April 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Tuesday, June 11th. Roth Mkm decreased their price objective on Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Wells Fargo & Company lowered their price target on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.75.

Ambarella Price Performance

NASDAQ AMBA opened at $57.03 on Thursday. Ambarella has a 12 month low of $40.31 and a 12 month high of $84.86. The stock has a market capitalization of $2.34 billion, a P/E ratio of -13.39 and a beta of 1.59. The firm’s 50-day moving average is $51.48 and its two-hundred day moving average is $52.98.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.09. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The business had revenue of $54.47 million during the quarter, compared to analysts’ expectations of $54.04 million. As a group, analysts anticipate that Ambarella will post -3.35 EPS for the current year.

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.