Ambarella (NASDAQ:AMBA) Issues Earnings Results, Misses Estimates By $0.51 EPS

Ambarella (NASDAQ:AMBA) announced its quarterly earnings results on Thursday. The semiconductor company reported ($0.34) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.51), Zacks reports. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.

Ambarella Price Performance

Shares of NASDAQ:AMBA traded down $3.76 during trading on Thursday, reaching $63.38. The stock had a trading volume of 2,569,952 shares, compared to its average volume of 1,269,801. The stock has a market capitalization of $2.78 billion, a PE ratio of -39.37 and a beta of 2.09. Ambarella has a 52 week low of $48.30 and a 52 week high of $96.69. The business’s 50-day moving average price is $74.33 and its 200 day moving average price is $68.25.

Insider Buying and Selling

In other Ambarella news, 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 value of $888,400.00. Following the completion of the sale, the vice president owned 155,924 shares in the company, valued at approximately $13,852,288.16. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chan Lee sold 2,951 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total transaction of $200,284.37. Following the completion of the transaction, the insider directly owned 157,098 shares of the company’s stock, valued at approximately $10,662,241.26. This represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 58,519 shares of company stock valued at $4,595,475. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in shares of Ambarella during the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its stake in Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Ambarella by 162.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 325 shares in the last quarter. Quarry LP raised its holdings in Ambarella by 78.2% during the 3rd quarter. Quarry LP now owns 793 shares of the semiconductor company’s stock worth $65,000 after buying an additional 348 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Ambarella by 44.1% during the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock worth $47,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Analyst Ratings Changes

AMBA has been the subject of a number of research reports. Consumer Edge restated a “buy” rating on shares of Ambarella in a report on Friday, May 22nd. Northland Securities set a $101.00 target price on Ambarella in a research report on Wednesday, June 17th. Susquehanna boosted their price target on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, May 29th. Summit Insights lowered Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Weiss Ratings raised Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $101.86.

About Ambarella

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.