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 firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the sale, the vice president now directly owns 18,466 shares in the company, valued at $1,071,028. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 transaction of $86,817.28.

Ambarella Trading Down 1.7 %

Ambarella stock opened at $56.20 on Friday. Ambarella, Inc. has a 12 month low of $39.69 and a 12 month high of $65.88. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -13.19 and a beta of 1.62. The business’s fifty day simple moving average is $51.59 and its two-hundred day simple moving average is $51.65.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million for 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%. Ambarella’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.76) EPS. On average, equities research analysts predict that Ambarella, Inc. will post -3 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Westpark Capital restated a “buy” rating and issued a $85.00 price objective on shares of Ambarella in a report on Monday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a report on Wednesday, August 28th. Bank of America lifted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Stifel Nicolaus increased their target price on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley lifted their price target on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ambarella currently has an average rating of “Hold” and a consensus price target of $75.00.

Institutional Investors Weigh In On Ambarella

Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its stake in Ambarella by 1,556.9% during the 2nd 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 last quarter. The Manufacturers Life Insurance Company boosted its position in shares of 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 valued at $69,698,000 after buying an additional 343,385 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Ambarella by 69.2% during 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 during the last quarter. Vanguard Group Inc. increased its holdings in Ambarella by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after buying an additional 248,297 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Ambarella by 230.1% during the 2nd quarter. Acadian Asset Management LLC now owns 172,444 shares of the semiconductor company’s stock valued at $9,299,000 after acquiring an additional 120,204 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

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.