Ambarella (NASDAQ:AMBA) Shares Down 1.8%

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Roth Mkm restated a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Wells Fargo & Company decreased their price target on Ambarella from $65.00 to $55.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a research report on Friday, August 23rd. Craig Hallum boosted their price objective on Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Bank of America raised their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.58.

Ambarella Trading Down 0.6 %

The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -12.49 and a beta of 1.63. The company has a fifty day moving average price of $52.73 and a 200-day moving average price of $51.53.

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

Insiders Place Their Bets

In related news, VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now owns 21,599 shares in the company, valued at approximately $1,331,794.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Chi-Hong Ju sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total value of $317,400.00. Following the sale, the vice president now directly owns 173,193 shares in the company, valued at approximately $9,161,909.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 1,408 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $61.66, for a total value of $86,817.28. Following the transaction, the vice president now owns 21,599 shares of the company’s stock, valued at approximately $1,331,794.34. The disclosure for this sale can be found here. Insiders have sold 26,653 shares of company stock valued at $1,487,144 over the last three months. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 590 shares during the last quarter. Creative Planning bought a new stake in shares of Ambarella during the 2nd quarter valued at $325,000. Cim Investment Management Inc. acquired a new position in shares of Ambarella in the 2nd quarter valued at $239,000. The Manufacturers Life Insurance Company boosted its position in shares of 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 worth $69,698,000 after purchasing an additional 343,385 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock valued at $78,091,000 after purchasing an additional 94,257 shares during the last quarter. Institutional investors and hedge funds 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.