Ambarella, Inc. (NASDAQ:AMBA) Short Interest Update

Ambarella, Inc. (NASDAQ:AMBA) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,500,000 shares, a decrease of 22.3% from the August 15th total of 1,930,000 shares. Based on an average daily trading volume, of 692,600 shares, the days-to-cover ratio is currently 2.2 days.

Ambarella Trading Down 1.7 %

NASDAQ:AMBA traded down $0.91 during midday trading on Monday, hitting $52.51. 133,580 shares of the stock were exchanged, compared to its average volume of 622,677. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -12.31 and a beta of 1.63. Ambarella has a one year low of $39.69 and a one year high of $65.88. The business has a 50-day moving average price of $52.73 and a two-hundred day moving average price of $51.53.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Morgan Stanley upped their price objective on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Stifel Nicolaus upped their price target on shares of Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Ambarella currently has a consensus rating of “Hold” and an average target price of $74.58.

Insider Activity

In other news, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the sale, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ambarella news, VP Chi-Hong Ju sold 8,900 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $55.53, for a total transaction of $494,217.00. Following 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 can be accessed through the SEC website. Also, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the completion of the transaction, the vice president now directly owns 21,599 shares of the company’s stock, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last three months, insiders sold 26,653 shares of company stock worth $1,487,144. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ambarella

Several hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in Ambarella by 13.5% during the fourth quarter. Russell Investments Group Ltd. now owns 17,146 shares of the semiconductor company’s stock worth $1,051,000 after buying an additional 2,034 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ambarella by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 299,062 shares of the semiconductor company’s stock worth $18,330,000 after acquiring an additional 4,593 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ambarella by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after acquiring an additional 29,379 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ambarella by 23.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 104,999 shares of the semiconductor company’s stock worth $5,954,000 after purchasing an additional 19,829 shares during the period. Finally, Norges Bank purchased a new stake in shares of Ambarella during the fourth quarter valued at $23,495,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.