Ambarella, Inc. (NASDAQ:AMBA) VP Sells $86,817.28 in Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 1,408 shares of the business’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 completion of the transaction, the vice president now owns 21,599 shares in the company, valued at $1,331,794.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ambarella Stock Up 1.5 %

NASDAQ AMBA traded up $0.89 during trading hours on Wednesday, hitting $60.42. 397,097 shares of the company were exchanged, compared to its average volume of 590,047. The stock has a 50-day moving average price of $52.96 and a 200 day moving average price of $52.86. Ambarella, Inc. has a 52 week low of $40.31 and a 52 week high of $84.86. The stock has a market cap of $2.48 billion, a PE ratio of -14.18 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.09. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. The company had revenue of $54.47 million for the quarter, compared to analysts’ expectations of $54.04 million. As a group, sell-side analysts anticipate that Ambarella, Inc. will post -3.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMBA. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a research report on Tuesday, June 11th. Morgan Stanley boosted their target price on Ambarella from $57.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Ambarella in a research report on Friday, May 31st. Bank of America decreased their target price on Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company decreased their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ambarella by 2.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,207 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 195 shares during the last quarter. White Pine Capital LLC grew its stake in shares of Ambarella by 3.2% during the fourth quarter. White Pine Capital LLC now owns 7,552 shares of the semiconductor company’s stock valued at $463,000 after buying an additional 234 shares during the last quarter. Sheets Smith Wealth Management grew its stake in shares of Ambarella by 4.4% during the fourth quarter. Sheets Smith Wealth Management now owns 6,588 shares of the semiconductor company’s stock valued at $404,000 after buying an additional 275 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Ambarella by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock valued at $945,000 after buying an additional 288 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 304 shares during the last quarter. Institutional investors 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.