Ambarella Inc (NASDAQ:AMBA) VP Yun-Lung Chen sold 5,734 shares of Ambarella stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $64.80, for a total value of $371,563.20. Following the completion of the transaction, the vice president now directly owns 23,397 shares in the company, valued at approximately $1,516,125.60. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of AMBA opened at $65.29 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.01 and a quick ratio of 9.42. Ambarella Inc has a 1-year low of $30.00 and a 1-year high of $67.15. The business’s 50-day moving average price is $50.19 and its 200 day moving average price is $45.75.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, August 29th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. Ambarella had a negative return on equity of 10.82% and a negative net margin of 19.38%. The company had revenue of $56.41 million for the quarter, compared to analysts’ expectations of $52.00 million. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Ambarella Inc will post -1.13 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in Ambarella during the 2nd quarter valued at about $47,000. Captrust Financial Advisors purchased a new position in Ambarella during the 2nd quarter valued at about $79,000. Aperio Group LLC purchased a new position in Ambarella during the 2nd quarter valued at about $89,000. Belpointe Asset Management LLC purchased a new position in Ambarella during the 1st quarter valued at about $119,000. Finally, Bank of Montreal Can grew its stake in Ambarella by 1,338.5% during the 2nd quarter. Bank of Montreal Can now owns 2,877 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 2,677 shares in the last quarter. 74.59% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on AMBA. Craig Hallum set a $62.00 price target on Ambarella and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC reissued a “sell” rating on shares of Ambarella in a research note on Friday, August 30th. Roth Capital lifted their price target on Ambarella from $45.00 to $55.00 in a research note on Tuesday, September 3rd. Morgan Stanley lifted their price target on Ambarella from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Cowen reissued an “overweight” rating on shares of Ambarella in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $59.38.
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.
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