Ambarella (NASDAQ:AMBA) Stock Price Up 2.1%

Shares of Ambarella, Inc. (NASDAQ:AMBA) shot up 2.1% on Wednesday . The company traded as high as $56.90 and last traded at $56.68. 100,542 shares changed hands during trading, a decline of 84% from the average session volume of 625,933 shares. The stock had previously closed at $55.54.

Analyst Ratings Changes

AMBA has been the subject of several recent analyst reports. Westpark Capital restated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research note on Friday, August 23rd. Bank of America raised their price objective on Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. TD Cowen boosted their target price on 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 dropped their price target 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. Two research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.58.

Ambarella Trading Down 3.0 %

The firm has a 50 day simple moving average of $53.17 and a two-hundred day simple moving average of $51.71. The company has a market capitalization of $2.15 billion, a PE ratio of -12.23 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $63.70 million for 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 25.76%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. Research analysts expect that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Chi-Hong Ju sold 8,900 shares of the stock in a transaction dated 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 transaction, the vice president now owns 179,193 shares in the company, valued at approximately $9,950,587.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Chi-Hong Ju sold 8,900 shares of Ambarella stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $55.53, for a total transaction of $494,217.00. Following the completion of the sale, the vice president now directly owns 179,193 shares in the company, valued at approximately $9,950,587.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,166 shares of company stock worth $1,350,627. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Ambarella during the second quarter worth about $26,000. CWM LLC raised its position in shares of Ambarella by 127.7% during the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares during the last quarter. Van ECK Associates Corp lifted its stake in Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 552 shares in the last quarter. Larson Financial Group LLC grew its holdings in Ambarella by 13,576.9% during the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 1,765 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Ambarella by 22.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock worth $177,000 after buying 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.