Ambarella Inc. (AMBA) Sees Unusually-High Trading Volume
Ambarella Inc. (NASDAQ:AMBA) shares saw unusually-high trading volume on Monday . Approximately 883,396 shares changed hands during trading, an increase of 15% from the previous session’s volume of 766,836 shares.The stock last traded at $66.31 and had previously closed at $64.09.
AMBA has been the topic of several recent analyst reports. Morgan Stanley reaffirmed a “buy” rating and set a $55.00 target price on shares of Ambarella in a research report on Saturday, June 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $65.00 target price on shares of Ambarella in a research report on Tuesday, May 31st. Zacks Investment Research raised Ambarella from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, July 12th. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating and set a $54.74 target price on the stock. in a research report on Wednesday, June 15th. Finally, Deutsche Bank AG reaffirmed 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. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $71.42.
The stock has a market cap of $2.17 billion and a price-to-earnings ratio of 37.61. The firm’s 50-day moving average is $56.66 and its 200-day moving average is $46.17.
Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, June 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The company earned $57.20 million during the quarter, compared to analyst estimates of $56.26 million. During the same quarter last year, the firm earned $0.71 EPS. The business’s revenue was down 19.7% on a year-over-year basis. Analysts expect 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 business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $51.96, for a total transaction of $51,960.00. Following the transaction, the director now owns 8,861 shares in the company, valued at approximately $460,417.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher Day sold 1,405 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $51.97, for a total value of $73,017.85. Following the transaction, the vice president now owns 26,110 shares in the company, valued at approximately $1,356,936.70. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in AMBA. Alta Park Capital LP acquired a new position in Ambarella during the fourth quarter valued at about $1,667,000. Rhumbline Advisers boosted its position in Ambarella by 6.8% in the fourth quarter. Rhumbline Advisers now owns 31,329 shares of the company’s stock valued at $1,746,000 after buying an additional 2,000 shares during the last quarter. Redwood Investments LLC boosted its position in Ambarella by 26.4% in the fourth quarter. Redwood Investments LLC now owns 34,514 shares of the company’s stock valued at $1,924,000 after buying an additional 7,204 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position 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 valued at $2,558,000 after buying an additional 3,820 shares during 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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