Ambarella (NASDAQ:AMBA) Shares Up 11.3% – Here’s What Happened

Ambarella, Inc. (NASDAQ:AMBA)’s stock price traded up 11.3% during mid-day trading on Monday . The company traded as high as $87.00 and last traded at $87.2350. Approximately 238,753 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,158,656 shares. The stock had previously closed at $78.36.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMBA. Northland Securities set a $101.00 target price on Ambarella in a report on Wednesday, June 17th. Rosenblatt Securities increased their price objective on Ambarella from $115.00 to $120.00 in a report on Tuesday, June 30th. Stifel Nicolaus set a $106.00 price objective on Ambarella in a research note on Friday, May 29th. Bank of America upped their target price on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ambarella in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ambarella has an average rating of “Moderate Buy” and an average target price of $101.12.

Ambarella Price Performance

The business’s 50 day simple moving average is $74.46 and its 200 day simple moving average is $66.56. The stock has a market cap of $3.15 billion, a P/E ratio of -44.61 and a beta of 2.11.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The firm had revenue of $100.36 million during the quarter, compared to analyst estimates of $100.12 million. During the same period in the prior year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. Research analysts predict that Ambarella, Inc. will post -1.13 earnings per share for the current year.

Insider Activity

In other news, VP Yun-Lung Chen sold 9,856 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $67.06, for a total value of $660,943.36. Following the completion of the sale, the vice president directly owned 66,515 shares in the company, valued at approximately $4,460,495.90. This trade represents a 12.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Chi-Hong Ju sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $88.84, for a total transaction of $888,400.00. Following the completion of the sale, the vice president owned 155,924 shares of the company’s stock, valued at $13,852,288.16. The trade was a 6.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 87,432 shares of company stock valued at $7,241,303. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Several hedge funds and other institutional investors have recently made changes to their positions in AMBA. Advisory Services Network LLC acquired a new stake in shares of Ambarella during the 3rd quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in Ambarella by 362.2% during the second quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after buying an additional 326 shares during the last quarter. Essential Partners LLC grew its position in shares of Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after buying an additional 228 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Ambarella by 162.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 325 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Ambarella during the 1st quarter worth approximately $30,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.