Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Drops By 9.3%

Ambarella, Inc. (NASDAQ:AMBA) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 1,370,000 shares, a decline of 9.3% from the September 30th total of 1,510,000 shares. Based on an average daily volume of 602,700 shares, the short-interest ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMBA shares. Craig Hallum lifted their target price on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Morgan Stanley increased their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Susquehanna cut their price target on shares of Ambarella from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, Stifel Nicolaus increased their price objective on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.09.

Insider Transactions at Ambarella

In other Ambarella news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the transaction, the vice president now owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Christopher Day sold 2,904 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth M. Schwarting sold 913 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $54.74, for a total value of $49,977.62. Following the sale, the director now directly owns 8,155 shares in the company, valued at $446,404.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,423 shares of company stock valued at $1,356,402 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Ambarella in the second quarter valued at $26,000. Blue Trust Inc. increased its holdings in Ambarella by 180.3% in the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after buying an additional 321 shares during the last quarter. CWM LLC increased its holdings in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. Signaturefd LLC boosted its holdings in Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 526 shares during the period. Finally, Van ECK Associates Corp increased its position in 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 acquiring an additional 552 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Price Performance

Ambarella stock opened at $59.22 on Thursday. Ambarella has a 12 month low of $39.69 and a 12 month high of $65.88. The company has a fifty day moving average price of $55.68 and a two-hundred day moving average price of $52.71. The company has a market cap of $2.43 billion, a PE ratio of -13.90 and a beta of 1.62.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analyst estimates 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 last year, the business earned ($0.76) earnings per share. Equities research analysts anticipate that Ambarella will post -3 earnings per share for the current year.

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.