Ambarella Inc. (AMBA) Sees Large Volume Increase
Shares of Ambarella Inc. (NASDAQ:AMBA) saw unusually-high trading volume on Wednesday . Approximately 976,523 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 895,974 shares.The stock last traded at $69.92 and had previously closed at $67.86.
AMBA has been the subject of a number of analyst reports. Zacks Investment Research raised Ambarella from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday, July 12th. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target on shares of Ambarella in a research report on Thursday. Vetr lowered Ambarella from a “strong-buy” rating to a “buy” rating and set a $68.62 price target for the company. in a research report on Friday, August 12th. Deutsche Bank AG increased their price target on Ambarella from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Monday, June 6th. Finally, Pacific Crest reissued an “overweight” rating and issued a $53.00 price target on shares of Ambarella in a research report on Monday, June 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Ambarella presently has an average rating of “Buy” and a consensus target price of $71.08.
The firm’s 50-day moving average price is $59.62 and its 200 day moving average price is $47.49. The stock has a market cap of $2.29 billion and a P/E ratio of 39.639.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, June 2nd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $57.20 million for the quarter, compared to analysts’ expectations of $56.26 million. During the same quarter last year, the company posted $0.71 EPS. The firm’s revenue was down 19.7% compared to the same quarter last year. Equities analysts anticipate that Ambarella Inc. will post $2.37 earnings per share for the current year.
In related news, CEO Feng-Ming Wang sold 9,573 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $51.97, for a total transaction of $497,508.81. Following the completion of the sale, the chief executive officer now owns 278,346 shares in the company, valued at $14,465,641.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Day sold 1,405 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $51.97, for a total value of $73,017.85. Following the sale, 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.
A hedge fund recently raised its stake in Ambarella stock. New York State Common Retirement Fund boosted its position in shares of Ambarella Inc. (NASDAQ:AMBA) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,886 shares of the company’s stock after buying an additional 3,820 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Ambarella worth $2,558,000 at the end of the most recent reporting period.
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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