Ambarella (NASDAQ:AMBA) Shares Down 0.5%

Ambarella, Inc. (NASDAQ:AMBA) shares were down 0.5% on Thursday . The stock traded as low as $54.17 and last traded at $54.80. Approximately 111,510 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 624,980 shares. The stock had previously closed at $55.06.

Analyst Ratings Changes

Several research firms recently weighed in on AMBA. Stifel Nicolaus boosted 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Ambarella in a research note on Friday, August 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Craig Hallum upped their target price on shares of Ambarella from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Westpark Capital reaffirmed a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.58.

Ambarella Stock Performance

The stock’s fifty day simple moving average is $53.17 and its two-hundred day simple moving average is $51.71. The stock has a market capitalization of $2.22 billion, a P/E ratio of -12.77 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 25.76% and a negative net margin of 79.46%. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the business posted ($0.76) earnings per share. Ambarella’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts expect that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Christopher Day sold 1,408 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the transaction, the vice president now directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Chi-Hong Ju sold 2,296 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $56.79, for a total transaction of $130,389.84. Following the completion of the sale, the vice president now owns 182,147 shares in the company, valued at $10,344,128.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,499 shares of company stock worth $1,137,787. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ambarella

Several large investors have recently added to or reduced their stakes in AMBA. Azzad Asset Management Inc. ADV grew its position in Ambarella by 2.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 9,983 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 231 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Ambarella by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,522 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 288 shares during the last quarter. CWM LLC raised its stake in shares of Ambarella by 127.7% in the second 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. Principal Financial Group Inc. lifted its stake in Ambarella by 8.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,882 shares of the semiconductor company’s stock valued at $248,000 after acquiring an additional 363 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Ambarella by 3.7% in the second quarter. Arizona State Retirement System now owns 10,893 shares of the semiconductor company’s stock worth $588,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Company Profile

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.