Ambarella (NASDAQ:AMBA) Stock Price Up 3.2%

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMBA. Morgan Stanley increased their price objective on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Stifel Nicolaus increased their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Finally, Bank of America lifted their price target 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 assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.00.

Ambarella Stock Performance

The firm’s fifty day simple moving average is $52.34 and its 200-day simple moving average is $51.51. The stock has a market cap of $2.29 billion, a P/E ratio of -13.02 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million during 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.76) earnings per share. Analysts predict that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In other Ambarella news, VP Chi-Hong Ju sold 8,900 shares of Ambarella stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the sale, the vice president now directly owns 179,193 shares in the company, valued at $9,950,587.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ambarella news, VP Christopher Day sold 1,408 shares of the 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 transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Chi-Hong Ju sold 8,900 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $55.53, for a total value of $494,217.00. Following the sale, the vice president now owns 179,193 shares of the company’s stock, valued at approximately $9,950,587.29. The disclosure for this sale can be found here. Insiders have sold a total of 26,893 shares of company stock worth $1,499,903 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Ambarella

Several hedge funds have recently bought and sold shares of the business. Kodai Capital Management LP bought a new position in shares of Ambarella in the fourth quarter valued at $65,543,000. Point72 Asset Management L.P. raised its holdings in shares of Ambarella by 1,556.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after acquiring an additional 476,406 shares during the last quarter. Norges Bank bought a new position in Ambarella in the 4th quarter valued at about $23,495,000. The Manufacturers Life Insurance Company boosted its stake in Ambarella by 36.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Ambarella by 69.2% during the 2nd quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after purchasing an additional 250,778 shares in the last quarter. Institutional investors and hedge funds 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.