Ambarella, Inc. (NASDAQ:AMBA – Get Rating) gapped down prior to trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $100.00 to $94.00. The stock had previously closed at $84.50, but opened at $76.57. Ambarella shares last traded at $73.34, with a volume of 31,548 shares traded.
Ambarella Is A Buy For Patient Investors
AMBA has been the topic of a number of other reports. Needham & Company LLC lowered their price objective on Ambarella from $175.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Cowen decreased their target price on Ambarella from $180.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 1st. Wells Fargo & Company dropped their price objective on shares of Ambarella from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday. Rosenblatt Securities reduced their price target on Ambarella from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Craig Hallum lowered their price target on shares of Ambarella from $170.00 to $100.00 in a research report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Ambarella has a consensus rating of “Moderate Buy” and a consensus target price of $125.13.
Insider Transactions at Ambarella
In related news, CEO Feng-Ming Wang sold 3,937 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $66.26, for a total value of $260,865.62. Following the sale, the chief executive officer now owns 689,918 shares of the company’s stock, valued at $45,713,966.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Feng-Ming Wang sold 3,937 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $66.26, for a total transaction of $260,865.62. Following the transaction, the chief executive officer now directly owns 689,918 shares in the company, valued at $45,713,966.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Leslie Kohn sold 2,609 shares of Ambarella stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $66.25, for a total transaction of $172,846.25. Following the completion of the transaction, the chief technology officer now owns 903,296 shares in the company, valued at $59,843,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,297 shares of company stock valued at $688,055. 6.60% of the stock is currently owned by company insiders.
Institutional Trading of Ambarella
Large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its position in Ambarella by 61.9% during the second quarter. Macquarie Group Ltd. now owns 1,640,233 shares of the semiconductor company’s stock worth $107,370,000 after purchasing an additional 626,893 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Ambarella by 1,101.9% during the second quarter. Point72 Asset Management L.P. now owns 655,043 shares of the semiconductor company’s stock worth $42,879,000 after purchasing an additional 600,543 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Ambarella by 14.9% in the first quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after acquiring an additional 522,698 shares in the last quarter. Credit Suisse AG raised its position in shares of Ambarella by 820.0% in the 2nd quarter. Credit Suisse AG now owns 518,194 shares of the semiconductor company’s stock valued at $33,922,000 after purchasing an additional 461,871 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Ambarella by 127.3% in the 1st quarter. Renaissance Technologies LLC now owns 571,100 shares of the semiconductor company’s stock worth $59,920,000 after purchasing an additional 319,900 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.
Ambarella Trading Down 16.3 %
The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -100.61 and a beta of 1.46. The company has a 50-day moving average of $77.97 and a 200-day moving average of $87.10.
Ambarella (NASDAQ:AMBA – Get Rating) last posted its earnings results on Tuesday, August 30th. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $80.90 million for the quarter, compared to analysts’ expectations of $80.21 million. Ambarella had a negative return on equity of 4.69% and a negative net margin of 7.50%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) EPS. On average, research analysts forecast that Ambarella, Inc. will post -1.33 earnings per share for the current year.
Ambarella Company Profile
Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.