Ambarella (NASDAQ:AMBA – Get Free Report) announced its earnings results on Thursday. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11, FiscalAI reports. The company had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative return on equity of 12.16% and a negative net margin of 19.42%.
Ambarella Trading Up 1.4%
AMBA traded up $1.26 during trading on Thursday, reaching $91.84. 2,619,890 shares of the company were exchanged, compared to its average volume of 934,842. Ambarella has a 52 week low of $48.30 and a 52 week high of $96.69. The firm has a 50 day moving average of $64.72 and a 200 day moving average of $68.41. The stock has a market cap of $4.03 billion, a P/E ratio of -51.60 and a beta of 2.17.
Wall Street Analysts Forecast Growth
AMBA has been the subject of several research analyst reports. Stifel Nicolaus set a $90.00 target price on shares of Ambarella in a research report on Friday, May 22nd. Consumer Edge restated a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $115.00 target price on shares of Ambarella in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.75.
Insider Activity
In related news, insider Chan W. Lee sold 3,641 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $54.14, for a total value of $197,123.74. Following the sale, the insider owned 160,049 shares of the company’s stock, valued at $8,665,052.86. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Feng-Ming Wang sold 8,083 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $54.14, for a total transaction of $437,613.62. Following the transaction, the chief executive officer directly owned 838,561 shares of the company’s stock, valued at $45,399,692.54. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 103,899 shares of company stock worth $5,921,677 in the last 90 days. 4.50% of the stock is currently owned by insiders.
Institutional Trading of Ambarella
Several large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in Ambarella by 8.9% during the 2nd quarter. State Street Corp now owns 1,855,170 shares of the semiconductor company’s stock valued at $122,562,000 after acquiring an additional 151,694 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ambarella by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,371,511 shares of the semiconductor company’s stock valued at $90,609,000 after purchasing an additional 52,954 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Ambarella by 2,312.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 864,610 shares of the semiconductor company’s stock worth $61,250,000 after purchasing an additional 828,773 shares during the period. UBS Group AG lifted its holdings in Ambarella by 379.3% in the third quarter. UBS Group AG now owns 821,747 shares of the semiconductor company’s stock worth $67,811,000 after purchasing an additional 650,306 shares during the period. Finally, Squarepoint Ops LLC grew its position in Ambarella by 35.2% in the 4th quarter. Squarepoint Ops LLC now owns 793,745 shares of the semiconductor company’s stock valued at $56,229,000 after buying an additional 206,773 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.
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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