Ambarella, Inc. (NASDAQ:AMBA – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $62.00 to $50.00. Bank of America currently has an underperform rating on the stock. Ambarella traded as low as $43.23 and last traded at $43.66, with a volume of 494610 shares changing hands. The stock had previously closed at $44.49.
A number of other brokerages have also recently commented on AMBA. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Ambarella in a research report on Wednesday, February 28th. StockNews.com raised Ambarella to a “sell” rating in a research report on Saturday. Wells Fargo & Company cut Ambarella from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $85.00 to $65.00 in a research report on Wednesday, January 3rd. Susquehanna boosted their price target on Ambarella from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Wednesday, February 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 report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.08.
Insider Buying and Selling at Ambarella
In other Ambarella news, CFO John Alexander Young sold 1,546 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $49.27, for a total transaction of $76,171.42. Following the completion of the sale, the chief financial officer now directly owns 107,571 shares in the company, valued at approximately $5,300,023.17. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CTO Leslie Kohn sold 1,198 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $59,025.46. Following the completion of the sale, the chief technology officer now directly owns 964,664 shares in the company, valued at approximately $47,528,995.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Alexander Young sold 1,546 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $49.27, for a total value of $76,171.42. Following the completion of the sale, the chief financial officer now owns 107,571 shares of the company’s stock, valued at $5,300,023.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,648 shares of company stock worth $327,595. Insiders own 5.90% of the company’s stock.
Institutional Investors Weigh In On Ambarella
Several hedge funds and other institutional investors have recently modified their holdings of AMBA. Kodai Capital Management LP purchased a new stake in shares of Ambarella in the 4th quarter worth $65,543,000. Macquarie Group Ltd. increased its stake in Ambarella by 61.9% in the 2nd quarter. Macquarie Group Ltd. now owns 1,640,233 shares of the semiconductor company’s stock worth $107,370,000 after buying an additional 626,893 shares in the last quarter. BlackRock Inc. increased its stake in Ambarella by 14.9% in the 1st quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock worth $422,620,000 after buying an additional 522,698 shares in the last quarter. Norges Bank purchased a new stake in Ambarella in the 4th quarter worth $23,495,000. Finally, Assenagon Asset Management S.A. increased its stake in Ambarella by 1,276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 403,197 shares of the semiconductor company’s stock worth $24,712,000 after buying an additional 373,915 shares in the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.
Ambarella Trading Down 1.9 %
The firm has a market cap of $1.79 billion, a PE ratio of -10.30 and a beta of 1.66. The stock has a 50 day simple moving average of $52.33 and a 200-day simple moving average of $54.09.
Ambarella (NASDAQ:AMBA – Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.03. Ambarella had a negative return on equity of 23.78% and a negative net margin of 74.81%. The business had revenue of $51.62 million during the quarter, compared to analyst estimates of $51.68 million. On average, equities research analysts expect that Ambarella, Inc. will post -3.53 EPS for the current year.
Ambarella Company Profile
Ambarella, Inc develops semiconductor solutions 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.