Ambarella Inc. (AMBA) Trading 2.9% Higher
Ambarella Inc. (NASDAQ:AMBA)’s share price traded up 2.9% during trading on Monday . The stock traded as high as $71.18 and last traded at $70.97, with a volume of 950,939 shares changing hands. The stock had previously closed at $68.98.
Several equities analysts have commented on the stock. Needham & Company LLC reissued a “neutral” rating on shares of Ambarella in a research note on Friday, June 3rd. Zacks Investment Research cut shares of Ambarella from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $47.00 price objective (up previously from $45.00) on shares of Ambarella in a research note on Tuesday, May 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Ambarella in a research note on Tuesday, May 31st. Finally, Vetr cut 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 note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $71.08.
The firm’s 50-day moving average is $60.08 and its 200 day moving average is $47.73. The firm has a market cap of $2.32 billion and a PE ratio of 40.10.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, June 2nd. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The firm had revenue of $57.20 million for the quarter, compared to the consensus estimate of $56.26 million. During the same period in the prior year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. On average, equities research analysts expect that Ambarella Inc. will post $2.39 EPS for the current year.
In other Ambarella news, CEO Feng-Ming Wang sold 9,573 shares of the business’s stock in a transaction dated 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 directly owns 278,346 shares of the company’s stock, valued at approximately $14,465,641.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $51.96, for a total value of $51,960.00. Following the sale, the director now directly owns 8,861 shares of the company’s stock, valued at $460,417.56. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Ambarella stock. New York State Common Retirement Fund raised its stake in shares of Ambarella Inc. (NASDAQ:AMBA) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 about 0.14% of Ambarella worth $2,558,000 as of its most recent filing with the SEC.
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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