Yun-Lung Chen Sells 4,197 Shares of Ambarella Inc. (AMBA) Stock
Ambarella Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 4,197 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $74.19, for a total transaction of $311,375.43. Following the completion of the sale, the vice president now directly owns 13,530 shares in the company, valued at $1,003,790.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Ambarella Inc. (NASDAQ:AMBA) opened at 72.54 on Thursday. The firm has a 50 day moving average of $68.47 and a 200-day moving average of $53.17. The stock has a market cap of $2.37 billion, a PE ratio of 54.62 and a beta of 1.50. Ambarella Inc. has a 12-month low of $33.39 and a 12-month high of $74.95.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The business had revenue of $65.10 million for 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%. The business’s revenue was down 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, analysts expect that Ambarella Inc. will post $2.64 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. First Interstate Bank increased its stake 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 during the period. US Bancorp DE increased its stake in shares of Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock valued at $107,000 after buying an additional 197 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock valued at $106,000 after buying an additional 316 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Ambarella by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,441 shares of the company’s stock valued at $226,000 after buying an additional 538 shares during the last quarter. Finally, Redmond Asset Management LLC increased its stake in shares of Ambarella by 2.0% in the second quarter. Redmond Asset Management LLC now owns 28,934 shares of the company’s stock valued at $1,470,000 after buying an additional 572 shares during the last quarter. 51.33% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on AMBA. Morgan Stanley reissued a “buy” rating and issued a $78.00 price objective on shares of Ambarella in a research report on Friday, September 2nd. Zacks Investment Research raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, July 12th. Pacific Crest reissued a “buy” rating on shares of Ambarella in a research report on Friday, September 2nd. Vetr lowered shares of Ambarella from a “strong-buy” rating to a “buy” rating and set a $54.74 price objective on the stock. in a research report on Wednesday, June 15th. Finally, KeyCorp increased their price objective on shares of Ambarella from $53.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 30th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $69.31.
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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