Ambarella Inc. (AMBA) Shares Up 2.9%
Ambarella Inc. (NASDAQ:AMBA) shot up 2.9% on Monday . The stock traded as high as $71.18 and last traded at $70.97, with a volume of 950,939 shares trading hands. The stock had previously closed at $68.98.
Several research firms have recently weighed in on AMBA. Needham & Company LLC reissued a “neutral” rating on shares of Ambarella in a report on Friday, June 3rd. Vetr downgraded Ambarella from a “sell” rating to a “strong sell” rating and set a $61.77 price objective for the company. in a report on Tuesday. Zacks Investment Research downgraded Ambarella from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Canaccord Genuity reissued a “buy” rating and issued a $85.00 price objective (up from $65.00) on shares of Ambarella in a report on Wednesday. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $47.00 price objective (up from $45.00) on shares of Ambarella in a report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $71.88.
The company has a 50 day moving average price of $61.04 and a 200-day moving average price of $48.39. The company has a market capitalization of $2.30 billion and a PE ratio of 39.8337.
Ambarella (NASDAQ:AMBA) last issued 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. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company had revenue of $57.20 million for the quarter, compared to the consensus estimate of $56.26 million. Ambarella’s quarterly revenue was down 19.7% compared to the same quarter last year. On average, equities analysts expect that Ambarella Inc. will post $2.40 earnings per share for the current year.
In other Ambarella news, VP Christopher Day sold 1,405 shares of the business’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $51.97, for a total transaction of $73,017.85. Following the completion of the transaction, the vice president now owns 26,110 shares in the company, valued at approximately $1,356,936.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Feng-Ming Wang sold 9,573 shares of the business’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 owns 278,346 shares of the company’s stock, valued at approximately $14,465,641.62. The disclosure for this sale can be found here.
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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