Ambarella (NASDAQ:AMBA) Trading 1.6% Higher

Ambarella, Inc. (NASDAQ:AMBA) was up 1.6% on Wednesday . The stock traded as high as $55.34 and last traded at $55.15. Approximately 56,654 shares changed hands during trading, a decline of 91% from the average daily volume of 617,129 shares. The stock had previously closed at $54.27.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Craig Hallum lifted their target price on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Bank of America boosted their price target on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Stifel Nicolaus boosted their target price on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.00.

Ambarella Stock Performance

The firm’s 50 day moving average is $51.64 and its two-hundred day moving average is $51.42. The stock has a market capitalization of $2.25 billion, a PE ratio of -12.95 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company 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 in the prior year, the firm earned ($0.76) EPS. On average, analysts anticipate that Ambarella, Inc. will post -3 EPS for the current year.

Insiders Place Their Bets

In other news, VP Yun-Lung Chen sold 5,963 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total transaction of $343,230.28. Following the completion of the sale, the vice president now owns 62,026 shares of the company’s stock, valued at $3,570,216.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ambarella news, VP Yun-Lung Chen sold 5,963 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares in the company, valued at $3,570,216.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chan W. Lee sold 1,490 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $79,774.60. Following the sale, the chief operating officer now owns 121,406 shares in the company, valued at approximately $6,500,077.24. The disclosure for this sale can be found here. Insiders have sold 22,014 shares of company stock valued at $1,224,810 in the last ninety days. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in Ambarella in the second quarter valued at $26,000. CWM LLC raised its position in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares during the period. Van ECK Associates Corp raised its position in shares of Ambarella by 62.1% during the second quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 552 shares during the period. Larson Financial Group LLC raised its position in Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 1,765 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock valued at $177,000 after buying an additional 590 shares during the last quarter. Institutional investors 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.