Ambarella (NASDAQ:AMBA) Trading Up 1.8%

Ambarella, Inc. (NASDAQ:AMBA) shares shot up 1.8% on Tuesday . The stock traded as high as $54.49 and last traded at $54.32. 87,038 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 621,692 shares. The stock had previously closed at $53.36.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMBA shares. Wells Fargo & Company cut their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Westpark Capital reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Roth Mkm reaffirmed a “neutral” rating and issued a $60.00 price target on shares of Ambarella in a report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. Finally, TD Cowen raised their price objective on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $75.00.

Ambarella Stock Performance

The firm has a market capitalization of $2.29 billion, a PE ratio of -13.02 and a beta of 1.63. The firm’s 50 day moving average price is $52.34 and its 200-day moving average price is $51.51.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period last year, the company posted ($0.76) EPS. Ambarella’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity at Ambarella

In related news, VP Christopher Day sold 483 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $25,859.82. Following the completion of the sale, the vice president now owns 21,370 shares of the company’s stock, valued at $1,144,149.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Chi-Hong Ju sold 8,900 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 179,193 shares of the company’s stock, valued at approximately $9,950,587.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christopher Day sold 483 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $25,859.82. Following the sale, the vice president now owns 21,370 shares of the company’s stock, valued at approximately $1,144,149.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,914 shares of company stock valued at $2,036,427. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Ambarella in the 2nd quarter valued at $26,000. CWM LLC increased its stake in 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 lifted 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 in the last quarter. Larson Financial Group LLC boosted its stake in shares of Ambarella by 13,576.9% in the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after purchasing an additional 1,765 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew 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 purchasing 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.