Elizabeth M. Schwarting Sells 240 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Elizabeth M. Schwarting sold 240 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $53.16, for a total transaction of $12,758.40. Following the completion of the transaction, the director now directly owns 9,068 shares of the company’s stock, valued at $482,054.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ambarella Price Performance

AMBA stock traded down $0.43 during midday trading on Wednesday, reaching $53.89. 444,233 shares of the company were exchanged, compared to its average volume of 623,441. Ambarella, Inc. has a one year low of $39.69 and a one year high of $65.88. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -13.04 and a beta of 1.63. The business has a 50-day moving average price of $52.47 and a two-hundred day moving average price of $51.49.

Ambarella (NASDAQ:AMBA) last announced its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business 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 revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.76) EPS. As a group, analysts anticipate that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambarella

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 248,297 shares during the period. Millennium Management LLC grew its stake in shares of Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after acquiring an additional 94,257 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Ambarella by 36.2% during 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 during the period. Kodai Capital Management LP acquired a new stake in Ambarella in the 4th quarter worth about $65,543,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Ambarella by 4.4% in the 4th 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 during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMBA. Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. TD Cowen increased their price target on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. Bank of America upped their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Finally, Craig Hallum raised their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.