Ambarella Inc. (NASDAQ:AMBA)’s share price rose 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 changing hands. The stock had previously closed at $56.05.

AMBA has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Ambarella from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.71 to $55.00 in a research report on Tuesday, March 29th. Oppenheimer Holdings Inc. initiated coverage on shares of Ambarella in a research report on Thursday, April 7th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of Ambarella from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Pacific Crest reiterated an “overweight” rating and issued a $53.00 target price (down previously from $62.00) on shares of Ambarella in a research report on Thursday, May 12th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $65.00 target price on shares of Ambarella in a research report on Tuesday, May 31st. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.43.

The company has a 50-day moving average price of $52.99 and a 200-day moving average price of $43.97. The stock has a market cap of $1.93 billion and a PE ratio of 33.4135.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, June 2nd. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.06. The firm earned $57.20 million during the quarter, compared to analyst estimates of $56.26 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. Ambarella’s revenue for the quarter was down 19.7% compared to the same quarter last year. Analysts expect that Ambarella Inc. will post $2.37 EPS for the current fiscal year.

In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $51.96, for a total transaction of $51,960.00. Following the transaction, the director now owns 8,861 shares in the company, valued at $460,417.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher Day sold 1,405 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $51.97, for a total value of $73,017.85. Following the transaction, the vice president now owns 26,110 shares in the company, valued at approximately $1,356,936.70. The disclosure for this sale can be found here.

Other institutional investors recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Ambarella by 6.8% in the fourth quarter. Rhumbline Advisers now owns 31,329 shares of the company’s stock worth $1,746,000 after buying an additional 2,000 shares during the period. Morgan Stanley boosted its position in shares of Ambarella by 12.3% in the fourth quarter. Morgan Stanley now owns 780,760 shares of the company’s stock worth $43,519,000 after buying an additional 85,621 shares during the period. Russell Frank Co boosted its position in shares of Ambarella by 341.1% in the fourth quarter. Russell Frank Co now owns 89,889 shares of the company’s stock worth $5,090,000 after buying an additional 69,510 shares during the period. New York State Common Retirement Fund boosted its position in shares of Ambarella by 9.1% in the fourth quarter. New York State Common Retirement Fund now owns 45,886 shares of the company’s stock worth $2,558,000 after buying an additional 3,820 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Ambarella by 33.3% in the fourth quarter. State of Wisconsin Investment Board now owns 80,000 shares of the company’s stock worth $4,459,000 after buying an additional 20,000 shares during the period.

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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