Ambarella, Inc. (NASDAQ:AMBA – Get Free Report)’s stock price traded up 8.9% on Monday . The company traded as high as $69.50 and last traded at $69.17. 1,366,100 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 1,061,667 shares. The stock had previously closed at $63.52.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AMBA. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Ambarella in a research report on Tuesday, May 26th. Bank of America raised their price objective on Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Susquehanna lifted their price objective on Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Consumer Edge reissued a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.75.
Check Out Our Latest Analysis on AMBA
Ambarella Price Performance
Ambarella (NASDAQ:AMBA – Get Free Report) last issued its earnings results on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $100.36 million during the quarter, compared to the consensus estimate of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.Ambarella’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Analysts forecast that Ambarella, Inc. will post -1.27 earnings per share for the current year.
Insider Buying and Selling at Ambarella
In related news, CEO Feng-Ming Wang sold 32,500 shares of Ambarella stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $91.01, for a total value of $2,957,825.00. Following the transaction, the chief executive officer directly owned 806,061 shares in the company, valued at $73,359,611.61. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John Alexander Young sold 4,577 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $52.77, for a total value of $241,528.29. Following the sale, the chief financial officer directly owned 117,072 shares in the company, valued at $6,177,889.44. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 86,799 shares of company stock worth $5,877,902. Company insiders own 4.50% of the company’s stock.
Institutional Trading of Ambarella
Institutional investors and hedge funds have recently bought and sold shares of the stock. Main Management ETF Advisors LLC boosted its holdings in shares of Ambarella by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the semiconductor company’s stock worth $1,220,000 after buying an additional 176 shares during the period. National Bank of Canada FI lifted its position in shares of Ambarella by 18.9% in the 3rd quarter. National Bank of Canada FI now owns 1,146 shares of the semiconductor company’s stock valued at $95,000 after acquiring an additional 182 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Ambarella by 6.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,109 shares of the semiconductor company’s stock valued at $220,000 after acquiring an additional 190 shares in the last quarter. Natixis Advisors LLC boosted its stake in Ambarella by 1.5% in the 3rd quarter. Natixis Advisors LLC now owns 13,721 shares of the semiconductor company’s stock worth $1,132,000 after purchasing an additional 204 shares during the period. Finally, Mariner LLC grew its position in Ambarella by 2.6% during the 3rd quarter. Mariner LLC now owns 8,574 shares of the semiconductor company’s stock worth $707,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.
About Ambarella
Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.
Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.
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