Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) Director Elizabeth M. Schwarting sold 240 shares of Ambarella stock in a transaction on Monday, September 16th. The shares were sold at an average price of $53.16, for a total value of $12,758.40. Following the completion of the sale, the director now directly owns 9,068 shares of the company's stock, valued at $482,054.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ambarella Stock Performance
AMBA opened at $53.89 on Thursday. The business's 50-day simple moving average is $52.34 and its 200-day simple moving average is $51.51. The company has a market cap of $2.21 billion, a P/E ratio of -12.65 and a beta of 1.63. Ambarella, Inc. has a one year low of $39.69 and a one year high of $65.88.
Ambarella (NASDAQ:AMBA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the previous year, the firm earned ($0.76) EPS. The company's revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.
Institutional Trading of Ambarella
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Several institutional investors and hedge funds have recently made changes to their positions in the company. 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 during the period. Creative Planning purchased a new stake in Ambarella in the 2nd quarter valued at $325,000. Cim Investment Management Inc. acquired a new stake in Ambarella during the 2nd quarter worth $239,000. The Manufacturers Life Insurance Company grew its position in Ambarella by 36.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company's stock worth $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Finally, Millennium Management LLC increased its stake in 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 purchasing an additional 94,257 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on AMBA shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 target price on shares of Ambarella in a research report on Wednesday, August 28th. Wells Fargo & Company dropped their price objective on shares of Ambarella from $65.00 to $55.00 and set an "equal weight" rating for the company in a report on Friday, May 31st. TD Cowen increased their target price on shares of Ambarella from $65.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Stifel Nicolaus raised their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Finally, Roth Mkm reaffirmed a "neutral" rating and set a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Ambarella presently has an average rating of "Hold" and a consensus price target of $75.00.
Get Our Latest Stock Analysis on AMBA
About Ambarella
(
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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.
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