Ambarella (NASDAQ:AMBA) Trading Down 0.4%

Ambarella, Inc. (NASDAQ:AMBA) shares traded down 0.4% during trading on Monday . The company traded as low as $53.98 and last traded at $54.19. 40,301 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 619,980 shares. The stock had previously closed at $54.40.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Westpark Capital reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Craig Hallum raised their price objective on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. TD Cowen upped their price target on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $75.00.

Ambarella Stock Performance

The firm has a market cap of $2.23 billion, a P/E ratio of -12.72 and a beta of 1.63. The stock’s fifty day moving average is $52.07 and its two-hundred day moving average is $51.46.

Ambarella (NASDAQ:AMBA) last released 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. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the previous year, the company posted ($0.76) EPS. Ambarella’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast that Ambarella, Inc. will post -2.99 EPS for the current year.

Insider Activity

In other Ambarella news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the completion of the transaction, the chief executive officer now directly owns 803,574 shares in the company, valued at approximately $45,016,215.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ambarella news, VP Chi-Hong Ju sold 6,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $9,161,909.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Feng-Ming Wang sold 4,382 shares of the company’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 completion of the sale, the chief executive officer now owns 803,574 shares in the company, valued at approximately $45,016,215.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,014 shares of company stock valued at $1,542,210. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of institutional investors have recently modified their holdings of AMBA. Dimensional Fund Advisors LP lifted its holdings in shares of Ambarella by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after purchasing an additional 29,379 shares in the last quarter. Kodai Capital Management LP purchased a new position in Ambarella during the fourth quarter valued at $65,543,000. Norges Bank purchased a new position in shares of Ambarella during the 4th quarter valued at about $23,495,000. SWS Partners increased its stake in shares of Ambarella by 25.3% in the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock worth $4,290,000 after purchasing an additional 16,049 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Ambarella in the first quarter valued at about $571,000. 82.09% of the stock is 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.