Ambarella Inc. (AMBA) Trading 2.4% Higher
Shares of Ambarella Inc. (NASDAQ:AMBA) traded up 2.4% on Friday . The stock traded as high as $66.03 and last traded at $65.15, with a volume of 788,711 shares changing hands. The stock had previously closed at $63.64.
Several analysts have recently weighed in on the stock. Deutsche Bank AG restated a “hold” rating and set a $47.00 price objective (up previously from $45.00) on shares of Ambarella in a research report on Tuesday, May 31st. Canaccord Genuity restated a “buy” rating and set a $65.00 price objective on shares of Ambarella in a research report on Tuesday, May 31st. Morgan Stanley restated a “buy” rating and set a $55.00 price objective on shares of Ambarella in a research report on Saturday, June 4th. Zacks Investment Research upgraded 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. Finally, Pacific Crest restated an “overweight” rating and set a $53.00 price objective on shares of Ambarella in a research report on Monday, June 6th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Ambarella presently has an average rating of “Buy” and a consensus price target of $71.42.
The firm has a market cap of $2.14 billion and a price-to-earnings ratio of 37.04. The company has a 50 day moving average of $57.50 and a 200-day moving average of $46.44.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, June 2nd. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The business had revenue of $57.20 million for the quarter, compared to the consensus estimate of $56.26 million. Ambarella’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. On average, equities research analysts expect that Ambarella Inc. will post $2.37 EPS for the current fiscal year.
In other Ambarella news, Director Christopher B. Paisley sold 1,000 shares of the stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $51.96, for a total transaction of $51,960.00. Following the completion of the transaction, the director now owns 8,861 shares in the company, valued at $460,417.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Day sold 1,405 shares of the stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $51.97, for a total transaction of $73,017.85. Following the transaction, the vice president now owns 26,110 shares of the company’s stock, valued at approximately $1,356,936.70. The disclosure for this sale can be found here.
Other large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of 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 in the last quarter. New York State Common Retirement Fund increased its stake in shares of 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 in the last quarter. Finally, Redwood Investments LLC increased its stake in shares of 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 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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