Ambarella Inc. (AMBA) Stock Price Up 4.5%
Ambarella Inc. (NASDAQ:AMBA) shares rose 4.5% during mid-day trading on Tuesday . The stock traded as high as $62.10 and last traded at $61.89, with a volume of 792,372 shares traded. The stock had previously closed at $59.25.
AMBA has been the topic of several research reports. 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. Deutsche Bank AG raised their price objective on shares of Ambarella from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Monday, June 6th. Pacific Crest restated an “overweight” rating and issued a $53.00 target price on shares of Ambarella in a research note on Monday, June 6th. Vetr cut shares of Ambarella from a “strong-buy” rating to a “buy” rating and set a $54.74 target price for the company. in a research note on Wednesday, June 15th. Finally, Needham & Company LLC restated a “neutral” rating on shares of Ambarella in a research note on Friday, June 3rd. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $70.65.
The stock has a market capitalization of $2.01 billion and a price-to-earnings ratio of 34.72. The company has a 50 day moving average price of $54.61 and a 200 day moving average price of $45.07.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, June 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.06. During the same quarter in the prior year, the company earned $0.71 EPS. The company earned $57.20 million during the quarter, compared to the consensus estimate of $56.26 million. The business’s quarterly revenue was down 19.7% on a year-over-year basis. Analysts predict that Ambarella Inc. will post $2.37 EPS for the current year.
In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $51.96, for a total value of $51,960.00. Following the completion of the sale, the director now directly owns 8,861 shares of the company’s stock, valued at approximately $460,417.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher Day sold 1,405 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $51.97, for a total transaction of $73,017.85. Following the completion of the sale, the vice president now directly owns 26,110 shares of the company’s stock, valued at $1,356,936.70. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Ambarella by 6.8% in the fourth quarter. Rhumbline Advisers now owns 31,329 shares of the company’s stock worth $1,746,000 after buying an additional 2,000 shares in the last quarter. New York State Common Retirement Fund raised its stake in Ambarella by 9.1% in the fourth quarter. New York State Common Retirement Fund now owns 45,886 shares of the company’s stock worth $2,558,000 after buying an additional 3,820 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Ambarella by 33.3% in the fourth quarter. State of Wisconsin Investment Board now owns 80,000 shares of the company’s stock worth $4,459,000 after buying an additional 20,000 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Ambarella during the fourth quarter worth approximately $18,952,000. Finally, Redwood Investments LLC raised its stake in Ambarella by 26.4% in the fourth quarter. Redwood Investments LLC now owns 34,514 shares of the company’s stock worth $1,924,000 after buying an additional 7,204 shares in the last 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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