Ambarella Inc. (AMBA) Trading Down 6.8%
Shares of Ambarella Inc. (NASDAQ:AMBA) fell 6.8% during mid-day trading on Friday . The stock traded as low as $65.04 and last traded at $66.89, with a volume of 3,631,626 shares trading hands. The stock had previously closed at $71.78.
Several research firms have recently issued reports on AMBA. Morgan Stanley reissued a “buy” rating and issued a $78.00 price target on shares of Ambarella in a research report on Friday. Deutsche Bank AG reissued a “hold” rating and issued a $47.00 price target (up previously from $45.00) on shares of Ambarella in a research report on Tuesday, May 31st. Canaccord Genuity reissued a “buy” rating and issued a $65.00 price target on shares of Ambarella in a research report on Tuesday, May 31st. Zacks Investment Research raised shares of Ambarella from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, July 12th. 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 given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.21.
The company’s 50 day moving average price is $61.99 and its 200-day moving average price is $48.73. The stock has a market capitalization of $2.20 billion and a P/E ratio of 38.08.
Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. During the same period last year, the business posted $0.88 earnings per share. The business earned $65.10 million during the quarter, compared to analysts’ expectations of $64.02 million. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that Ambarella Inc. will post $2.41 earnings per share for the current fiscal year.
In other Ambarella news, insider Leslie Kohn sold 4,675 shares of Ambarella stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $51.97, for a total transaction of $242,959.75. Following the completion of the transaction, the insider now directly owns 894,162 shares of the company’s stock, valued at $46,469,599.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Feng-Ming Wang sold 9,573 shares of Ambarella 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 transaction, the chief executive officer now directly owns 278,346 shares of the company’s stock, valued at $14,465,641.62. The disclosure for this sale can be found here.
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.