Ambarella Inc. (AMBA) Trading Down 3.7%
Ambarella Inc. (NASDAQ:AMBA)’s share price was down 3.7% on Tuesday . The company traded as low as $65.71 and last traded at $65.85, with a volume of 927,796 shares traded. The stock had previously closed at $68.40.
AMBA has been the subject of a number of research reports. Canaccord Genuity reiterated a “buy” rating and set a $65.00 target price on shares of Ambarella in a research note 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 note on Tuesday, May 31st. Needham & Company LLC reiterated a “neutral” rating on shares of Ambarella in a research note on Friday, June 3rd. Zacks Investment Research lowered shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd. Finally, Morgan Stanley reiterated a “buy” rating and set a $55.00 target price on shares of Ambarella in a research note on Saturday, June 4th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $68.26.
The firm has a 50-day moving average of $65.85 and a 200 day moving average of $50.93. The stock has a market capitalization of $2.25 billion, a P/E ratio of 51.7069 and a beta of 1.49.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The company earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. Ambarella’s revenue was down 22.7% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. On average, analysts expect that Ambarella Inc. will post $2.64 earnings per share for the current fiscal year.
In other Ambarella news, CEO Feng-Ming Wang sold 9,573 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $67.98, for a total value of $650,772.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Day sold 1,173 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $50.85, for a total transaction of $59,647.05. Following the completion of the transaction, the vice president now directly owns 23,532 shares of the company’s stock, valued at approximately $1,196,602.20. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Smithfield Trust Co. boosted its position in Ambarella by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,000 shares of the company’s stock worth $102,000 after buying an additional 1,000 shares in the last quarter. Penserra Capital Management LLC boosted its position in Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock worth $106,000 after buying an additional 316 shares in the last quarter. US Bancorp DE boosted its position in Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock worth $107,000 after buying an additional 197 shares in the last quarter. First Interstate Bank boosted its position in Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock worth $110,000 after buying an additional 88 shares in the last quarter. Finally, FTB Advisors Inc. bought a new position in Ambarella during the second quarter worth about $112,000. 51.33% of the stock is owned by institutional investors and hedge funds.
Ambarella Company Profile
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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