Shares of Ambarella Inc. (NASDAQ:AMBA) were down 3.2% during mid-day trading on Thursday . The stock traded as low as $63.85 and last traded at $64.00, with a volume of 616,857 shares traded. The stock had previously closed at $66.10.

Several analysts have issued reports on AMBA shares. Zacks Investment Research raised shares of Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Pacific Crest reissued an “overweight” rating and issued a $53.00 price objective (down previously from $62.00) on shares of Ambarella in a research note on Thursday, May 12th. Canaccord Genuity reissued a “buy” rating and issued a $65.00 price objective on shares of Ambarella in a research note on Tuesday, May 31st. Deutsche Bank AG reaffirmed a “hold” rating and set a $47.00 price target (up previously from $45.00) on shares of Ambarella in a research note on Tuesday, May 31st. Finally, Needham & Company LLC reaffirmed a “neutral” rating on shares of Ambarella in a research note on Friday, June 3rd. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $71.42.

The firm’s 50 day moving average price is $57.90 and its 200 day moving average price is $46.63. The company has a market cap of $2.14 billion and a PE ratio of 36.96.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, June 2nd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company earned $57.20 million during the quarter, compared to analyst estimates of $56.26 million. The business’s revenue was down 19.7% compared to the same quarter last year. On average, equities research analysts predict 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 stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $51.96, for a total transaction of $51,960.00. Following the sale, the director now directly owns 8,861 shares in the company, valued at approximately $460,417.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Feng-Ming Wang sold 9,573 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $51.97, for a total transaction of $497,508.81. Following the sale, the chief executive officer now owns 278,346 shares in the company, valued at $14,465,641.62. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Ambarella stock. Redwood Investments LLC raised its position in Ambarella Inc. (NASDAQ:AMBA) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,514 shares of the company’s stock after buying an additional 7,204 shares during the period. Redwood Investments LLC owned approximately 0.11% of Ambarella worth $1,924,000 at the end of the most recent 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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