Ambarella, Inc. (NASDAQ:AMBA) Director Sells $49,977.62 in Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Elizabeth M. Schwarting sold 913 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total transaction of $49,977.62. Following the completion of the sale, the director now directly owns 8,155 shares in the company, valued at approximately $446,404.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ambarella Price Performance

NASDAQ AMBA traded down $0.37 during trading hours on Wednesday, reaching $53.90. 327,416 shares of the company’s stock traded hands, compared to its average volume of 618,685. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88. The firm has a market cap of $2.22 billion, a PE ratio of -12.65 and a beta of 1.63. The firm has a 50-day simple moving average of $51.64 and a 200 day simple moving average of $51.42.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same period last year, the company posted ($0.76) EPS. Ambarella’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Ambarella, Inc. will post -3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMBA. Westpark Capital reissued a “buy” rating and issued a $85.00 price target on shares of Ambarella in a report on Monday, August 26th. TD Cowen raised their price target on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Stifel Nicolaus lifted their target price on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ambarella presently has a consensus rating of “Hold” and an average target price of $75.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Ambarella by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after buying an additional 29,379 shares during the last quarter. Norges Bank purchased a new position in Ambarella in the fourth quarter worth about $23,495,000. Edmond DE Rothschild Holding S.A. raised its holdings 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 worth $669,000 after buying an additional 10,068 shares during the last quarter. Olympiad Research LP purchased a new position in Ambarella in the fourth quarter worth about $323,000. Finally, Alpha DNA Investment Management LLC purchased a new position in Ambarella in the fourth quarter worth about $501,000. 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.