Ambarella (NASDAQ:AMBA) Stock Price Down 1.8%

Ambarella, Inc. (NASDAQ:AMBA)’s stock price dropped 1.8% during mid-day trading on Monday . The stock traded as low as $52.16 and last traded at $52.44. Approximately 51,398 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 622,216 shares. The stock had previously closed at $53.42.

Wall Street Analyst Weigh In

AMBA has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Bank of America upped their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. TD Cowen upped their target price on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Craig Hallum upped their target price on Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.58.

Ambarella Stock Performance

The business has a fifty day moving average price of $52.47 and a 200 day moving average price of $51.49. The company has a market capitalization of $2.21 billion, a PE ratio of -13.04 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released 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 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted ($0.76) EPS. Research analysts forecast that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In related news, VP Chi-Hong Ju sold 8,900 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $55.53, for a total transaction of $494,217.00. Following the sale, the vice president now directly owns 179,193 shares in the company, valued at approximately $9,950,587.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Chi-Hong Ju sold 8,900 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $55.53, for a total transaction of $494,217.00. Following the sale, the vice president now directly owns 179,193 shares in the company, valued at approximately $9,950,587.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,893 shares of company stock worth $1,499,903. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently bought and sold shares of AMBA. Meeder Asset Management Inc. acquired a new position in shares of Ambarella in the 2nd quarter worth approximately $26,000. CWM LLC grew its position in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 552 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 590 shares in the last quarter. Institutional investors and hedge funds 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.