Ambarella (NASDAQ:AMBA) Shares Down 0.4%

Ambarella, Inc. (NASDAQ:AMBA)’s share price traded down 0.4% during trading on Wednesday . The company traded as low as $53.96 and last traded at $54.10. 51,926 shares were traded during mid-day trading, a decline of 92% from the average session volume of 621,261 shares. The stock had previously closed at $54.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMBA. Stifel Nicolaus boosted their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley boosted their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Ambarella in a report on Wednesday, August 28th. TD Cowen boosted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Wells Fargo & Company lowered their price target 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. Two equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.58.

Ambarella Stock Down 0.4 %

The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -12.70 and a beta of 1.63. The stock’s 50-day simple moving average is $52.47 and its two-hundred day simple moving average is $51.49.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) earnings per share. On average, sell-side analysts forecast that Ambarella, Inc. will post -2.99 EPS for the current year.

Insider Buying and Selling at Ambarella

In related news, VP Christopher Day sold 1,408 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the sale, the vice president now directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Yun-Lung Chen sold 5,963 shares of the business’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 value 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 approximately $3,570,216.56. The disclosure for this sale can be found here. Insiders have sold 26,653 shares of company stock valued at $1,487,144 over the last 90 days. 5.70% of the stock is owned by insiders.

Institutional Trading of Ambarella

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Ambarella by 22.0% in the second 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. Creative Planning acquired a new position in Ambarella in the 2nd quarter valued at about $325,000. Cim Investment Management Inc. acquired a new position in Ambarella in the 2nd quarter valued at about $239,000. The Manufacturers Life Insurance Company raised 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 acquiring an additional 343,385 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Ambarella by 7.0% during the 2nd quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after acquiring an additional 94,257 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.