Ambarella (NASDAQ:AMBA) Trading 1.8% Higher

Ambarella, Inc. (NASDAQ:AMBA)’s share price shot up 1.8% on Tuesday . The company traded as high as $54.49 and last traded at $54.32. 87,038 shares were traded during trading, a decline of 86% from the average session volume of 621,692 shares. The stock had previously closed at $53.36.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMBA shares. Bank of America lifted their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. TD Cowen lifted their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Roth Mkm reissued a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Wells Fargo & Company reduced their target price on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, May 31st. Finally, Craig Hallum lifted their price target on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Ambarella currently has an average rating of “Hold” and a consensus target price of $75.00.

Ambarella Trading Up 3.5 %

The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -13.02 and a beta of 1.63. The company’s 50 day moving average is $52.34 and its 200 day moving average is $51.51.

Ambarella (NASDAQ:AMBA) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. Analysts anticipate that Ambarella, Inc. will post -2.99 EPS for the current fiscal year.

Insider Activity

In other news, VP Chi-Hong Ju sold 8,900 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $55.53, for a total value of $494,217.00. Following the completion of the sale, the vice president now directly owns 179,193 shares of the company’s stock, valued at $9,950,587.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ambarella news, VP Christopher Day sold 483 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total transaction of $25,859.82. Following the completion of the transaction, the vice president now owns 21,370 shares in the company, valued at approximately $1,144,149.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Chi-Hong Ju sold 8,900 shares of Ambarella stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $55.53, for a total transaction of $494,217.00. Following the completion of the sale, the vice president now directly owns 179,193 shares in the company, valued at approximately $9,950,587.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,914 shares of company stock valued at $2,036,427. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Kodai Capital Management LP acquired a new stake in Ambarella in the fourth quarter valued at $65,543,000. Point72 Asset Management L.P. lifted its stake in shares of Ambarella by 1,556.9% in the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock valued at $27,353,000 after purchasing an additional 476,406 shares during the period. Norges Bank acquired a new stake in shares of Ambarella in the fourth quarter valued at about $23,495,000. The Manufacturers Life Insurance Company boosted its holdings in Ambarella by 36.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock worth $69,698,000 after buying an additional 343,385 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Ambarella by 69.2% during the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock worth $33,090,000 after buying an additional 250,778 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Company Profile

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.