Christopher Day Sells 2,904 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 2,904 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total transaction of $168,432.00. Following the transaction, the vice president now directly owns 18,466 shares of the company’s stock, valued at approximately $1,071,028. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Christopher Day also recently made the following trade(s):

• On Tuesday, September 17th, Christopher Day sold 483 shares of Ambarella stock. The shares were sold at an average price of $53.54, for a total value of $25,859.82.
• On Monday, July 8th, Christopher Day sold 1,408 shares of Ambarella stock. The shares were sold at an average price of $61.66, for a total value of $86,817.28.

Ambarella Stock Performance

Shares of AMBA stock traded down $0.97 during trading hours on Friday, hitting $56.20. The company had a trading volume of 411,547 shares, compared to its average volume of 612,434. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $65.88. The firm’s fifty day moving average is $51.53 and its 200 day moving average is $51.59. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -13.19 and a beta of 1.62.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.76) EPS. On average, sell-side analysts expect that Ambarella, Inc. will post -3 EPS for the current fiscal year.

Institutional Investors Weigh In On Ambarella

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its holdings in Ambarella by 1,556.9% during the second quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after acquiring an additional 476,406 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ambarella by 36.2% during the 2nd 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 during the period. Marshall Wace LLP lifted its stake in Ambarella by 69.2% in the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after buying an additional 250,778 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ambarella by 6.1% in the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock valued at $220,384,000 after buying an additional 248,297 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Ambarella by 230.1% during the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock worth $9,299,000 after acquiring an additional 120,204 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. TD Cowen increased their price target on shares of Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Bank of America boosted their price objective on shares of Ambarella from $50.00 to $57.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Stifel Nicolaus increased their target price on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Ambarella in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.00.

About Ambarella

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.