Ambarella, Inc. (NASDAQ:AMBA) Sees Large Decrease in Short Interest

Ambarella, Inc. (NASDAQ:AMBA) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,500,000 shares, a decrease of 22.3% from the August 15th total of 1,930,000 shares. Based on an average daily volume of 692,600 shares, the days-to-cover ratio is presently 2.2 days.

Ambarella Stock Performance

Shares of AMBA opened at $53.36 on Tuesday. Ambarella has a 52 week low of $39.69 and a 52 week high of $65.88. The firm has a market capitalization of $2.19 billion, a P/E ratio of -12.53 and a beta of 1.63. The company has a 50-day simple moving average of $52.57 and a 200-day simple moving average of $51.51.

Ambarella (NASDAQ:AMBA) last posted its quarterly 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 firm had revenue of $63.70 million for 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%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.76) earnings per share. As a group, equities analysts forecast that Ambarella will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 8,900 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $55.53, for a total transaction of $494,217.00. Following the completion of the sale, the vice president now directly owns 179,193 shares of the company’s stock, valued at approximately $9,950,587.29. The sale 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 on Tuesday, September 3rd. The shares were sold at an average price of $57.56, for a total value of $343,230.28. Following the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chi-Hong Ju sold 8,900 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the transaction, the vice president now directly 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 26,653 shares of company stock valued at $1,487,144 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after buying an additional 248,297 shares during the period. Millennium Management LLC raised its holdings in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after acquiring an additional 343,385 shares in the last quarter. Kodai Capital Management LP acquired a new position in shares of Ambarella in the 4th quarter valued at approximately $65,543,000. Finally, Dimensional Fund Advisors LP increased its stake in Ambarella by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after purchasing an additional 29,379 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMBA. Westpark Capital reiterated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research note on Monday, August 26th. Stifel Nicolaus upped their price target on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Wells Fargo & Company decreased their target price 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. Finally, Bank of America raised their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.58.

Ambarella Company Profile

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.