Ambarella (NASDAQ:AMBA) Reaches New 12-Month Low at $39.85

Ambarella, Inc. (NASDAQ:AMBA)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $39.85 and last traded at $40.16, with a volume of 264071 shares traded. The stock had previously closed at $42.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMBA shares. Morgan Stanley boosted their price objective on shares of Ambarella from $57.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. Bank of America cut their price objective on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating on the stock in a report on Tuesday, April 16th. 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 report on Friday, May 31st. StockNews.com raised shares of Ambarella to a “sell” rating in a research report on Friday, April 26th. Finally, Roth Mkm cut their price target on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.75.

Ambarella Trading Down 5.5 %

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -9.88 and a beta of 1.59. The stock has a 50-day moving average of $55.39 and a 200-day moving average of $52.33.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.09. The business had revenue of $54.47 million during the quarter, compared to analyst estimates of $54.04 million. Ambarella had a negative return on equity of 24.86% and a negative net margin of 78.36%. As a group, research analysts expect that Ambarella, Inc. will post -3.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Ambarella

In other Ambarella news, VP Chi-Hong Ju sold 2,296 shares of Ambarella stock in a transaction on Friday, June 7th. The stock was sold at an average price of $56.79, for a total transaction of $130,389.84. Following the sale, the vice president now owns 182,147 shares of the company’s stock, valued at approximately $10,344,128.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Chi-Hong Ju sold 2,296 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $56.79, for a total value of $130,389.84. Following the sale, the vice president now owns 182,147 shares of the company’s stock, valued at approximately $10,344,128.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Day sold 1,408 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the sale, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold 20,499 shares of company stock valued at $1,137,787 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in shares of Ambarella by 2.8% during the fourth quarter. Raymond James & Associates now owns 11,114 shares of the semiconductor company’s stock valued at $681,000 after buying an additional 307 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Ambarella in the fourth quarter valued at about $78,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Ambarella by 0.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 267,391 shares of the semiconductor company’s stock valued at $16,388,000 after purchasing an additional 1,758 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Ambarella by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 135,118 shares of the semiconductor company’s stock valued at $8,281,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Ambarella in the fourth quarter worth about $264,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.