Ambarella, Inc. (NASDAQ:AMBA) Sees Significant Drop in Short Interest

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

Ambarella Price Performance

NASDAQ:AMBA traded down $0.91 during trading hours on Monday, reaching $52.51. 133,580 shares of the company traded hands, compared to its average volume of 622,677. The firm’s 50-day moving average is $52.73 and its 200-day moving average is $51.53. The stock has a market cap of $2.15 billion, a P/E ratio of -12.31 and a beta of 1.63. Ambarella has a 1-year low of $39.69 and a 1-year high of $65.88.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) EPS for the quarter, beating 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 business had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter last year, the company earned ($0.76) earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Ambarella will post -2.99 earnings per share for the current year.

Insider Buying and Selling at Ambarella

In related news, VP Chi-Hong Ju sold 6,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $52.90, for a total transaction of $317,400.00. Following the completion of the sale, the vice president now directly owns 173,193 shares of the company’s stock, valued at $9,161,909.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Chi-Hong Ju sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $52.90, for a total transaction of $317,400.00. Following the transaction, the vice president now directly owns 173,193 shares in the company, valued at $9,161,909.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher Day sold 1,408 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $61.66, for a total transaction of $86,817.28. Following 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 ninety days, insiders have sold 26,653 shares of company stock worth $1,487,144. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Ambarella

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Ambarella by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock valued at $43,171,000 after buying an additional 29,379 shares during the period. Kodai Capital Management LP purchased a new stake in Ambarella during the fourth quarter valued at about $65,543,000. Norges Bank acquired a new stake in Ambarella during the fourth quarter worth about $23,495,000. SWS Partners lifted its stake in shares of Ambarella by 25.3% in the 2nd quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after purchasing an additional 16,049 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Ambarella during the 1st quarter worth $571,000. 82.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMBA has been the subject of several research analyst reports. TD Cowen increased their price objective on Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research 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 note on Wednesday, August 28th. Westpark Capital restated a “buy” rating and set a $85.00 target price on shares of Ambarella in a research report on Monday, August 26th. Stifel Nicolaus lifted their price target on shares of Ambarella from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley boosted their price target on Ambarella from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.58.

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.