Ambarella Inc. (AMBA) Trading 2.3% Higher
Shares of Ambarella Inc. (NASDAQ:AMBA) traded up 2.3% during mid-day trading on Monday . The company traded as high as $57.47 and last traded at $57.36, with a volume of 415,659 shares trading hands. The stock had previously closed at $56.05.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Ambarella from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, July 12th. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating and set a $54.74 price objective on the stock. in a research note on Wednesday, June 15th. Pacific Crest reiterated an “overweight” rating and set a $53.00 price objective on shares of Ambarella in a research note on Monday, June 6th. Deutsche Bank AG upped their target price on Ambarella from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Monday, June 6th. Finally, Morgan Stanley restated a “buy” rating and issued a $55.00 target price on shares of Ambarella in a research note on Saturday, June 4th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Ambarella has a consensus rating of “Buy” and a consensus price target of $70.43.
The firm’s 50 day moving average is $52.33 and its 200 day moving average is $43.98. The company has a market capitalization of $1.89 billion and a P/E ratio of 32.63.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, June 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.06. During the same period in the previous year, the company earned $0.71 earnings per share. The firm earned $57.20 million during the quarter, compared to analyst estimates of $56.26 million. Ambarella’s revenue was down 19.7% on a year-over-year basis. On average, equities analysts predict that Ambarella Inc. will post $2.37 earnings per share for the current fiscal year.
In related news, CEO Feng-Ming Wang sold 9,573 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $51.97, for a total value of $497,508.81. Following the transaction, the chief executive officer now directly owns 278,346 shares of the company’s stock, valued at approximately $14,465,641.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $51.96, for a total value of $51,960.00. Following the completion of the transaction, the director now directly owns 8,861 shares in the company, valued at $460,417.56. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. Morgan Stanley raised its stake in Ambarella by 12.3% in the fourth quarter. Morgan Stanley now owns 780,760 shares of the company’s stock valued at $43,519,000 after buying an additional 85,621 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Ambarella during the fourth quarter valued at approximately $18,952,000. Russell Frank Co raised its stake in Ambarella by 341.1% in the fourth quarter. Russell Frank Co now owns 89,889 shares of the company’s stock valued at $5,090,000 after buying an additional 69,510 shares during the last quarter. State of Wisconsin Investment Board raised its stake in Ambarella by 33.3% in the fourth quarter. State of Wisconsin Investment Board now owns 80,000 shares of the company’s stock valued at $4,459,000 after buying an additional 20,000 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Ambarella by 9.1% in the fourth quarter. New York State Common Retirement Fund now owns 45,886 shares of the company’s stock valued at $2,558,000 after buying an additional 3,820 shares during the last quarter.
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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