Shares of Ambarella Inc. (NASDAQ:AMBA) gapped up prior to trading on Tuesday . The stock had previously closed at $65.34, but opened at $65.84. Ambarella shares last traded at $68.12, with a volume of 769,549 shares traded.

AMBA has been the topic of several research analyst reports. 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 set a $53.00 target price (down from $62.00) on shares of Ambarella in a research report on Thursday, May 12th. Canaccord Genuity reiterated a “buy” rating and set a $65.00 target price on shares of Ambarella in a research report on Tuesday, May 31st. Deutsche Bank AG reiterated a “hold” rating and set a $47.00 target price (up from $45.00) on shares of Ambarella in a research report on Tuesday, May 31st. Finally, Needham & Company LLC reiterated a “neutral” rating on shares of Ambarella in a research report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Ambarella presently has a consensus rating of “Buy” and a consensus price target of $71.08.

The firm has a market capitalization of $2.25 billion and a price-to-earnings ratio of 39.0185. The firm has a 50 day moving average price of $59.13 and a 200-day moving average price of $47.34.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, June 2nd. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The business earned $57.20 million during the quarter, compared to analyst estimates of $56.26 million. The company’s revenue was down 19.7% on a year-over-year basis. During the same quarter last year, the company posted $0.71 earnings per share. On average, analysts predict that Ambarella Inc. will post $2.37 EPS for the current year.

In other news, Director Christopher B. Paisley sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 8,861 shares in the company, valued at approximately $460,417.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,173 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $50.85, for a total transaction of $59,647.05. Following the completion of the sale, the vice president now owns 23,532 shares in the company, valued at $1,196,602.20. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Ambarella stock. New York State Common Retirement Fund increased its position in shares of Ambarella Inc. (NASDAQ:AMBA) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,886 shares of the company’s stock after buying an additional 3,820 shares during the period. New York State Common Retirement Fund owned 0.14% of Ambarella worth $2,558,000 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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