Ambarella (NASDAQ:AMBA) Shares Down 1.8%

Ambarella, Inc. (NASDAQ:AMBA)’s share price was down 1.8% on Monday . The stock traded as low as $52.16 and last traded at $52.44. Approximately 51,398 shares traded hands during trading, a decline of 92% from the average daily volume of 622,216 shares. The stock had previously closed at $53.42.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMBA shares. Morgan Stanley boosted their price objective on shares of Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Monday, August 26th. TD Cowen upped 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. Finally, Wells Fargo & Company reduced their price objective on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.58.

Ambarella Trading Down 0.6 %

The stock has a market capitalization of $2.18 billion, a P/E ratio of -12.49 and a beta of 1.63. 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 issued its quarterly earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.76) EPS. On average, sell-side analysts forecast that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Activity

In other Ambarella news, VP Chi-Hong Ju sold 8,900 shares of the business’s 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 owns 179,193 shares of the company’s stock, valued at $9,950,587.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ambarella news, VP Chi-Hong Ju sold 8,900 shares of Ambarella stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $55.53, for a total transaction of $494,217.00. Following the transaction, the vice president now directly owns 179,193 shares of the company’s stock, valued at approximately $9,950,587.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Day sold 1,408 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 21,599 shares in the company, valued at $1,331,794.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,653 shares of company stock worth $1,487,144. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Ambarella

Several institutional investors have recently added to or reduced their stakes in AMBA. Vanguard Group Inc. increased its position in shares of Ambarella by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,340,831 shares of the semiconductor company’s stock worth $220,384,000 after acquiring an additional 248,297 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ambarella by 7.0% during the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after buying an additional 94,257 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Ambarella by 36.2% in the 2nd 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. Kodai Capital Management LP purchased a new position in Ambarella during the 4th quarter worth $65,543,000. Finally, Dimensional Fund Advisors LP grew its stake 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 in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.

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.