Short Interest in Ambarella, Inc. (NASDAQ:AMBA) Decreases By 6.4%

Ambarella, Inc. (NASDAQ:AMBA) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 2,210,000 shares, a decrease of 6.4% from the May 31st total of 2,360,000 shares. Based on an average daily trading volume, of 614,500 shares, the short-interest ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMBA shares. Bank of America lowered their price objective on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a research report on Tuesday, April 16th. Morgan Stanley raised their price target on shares of Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. StockNews.com raised shares of Ambarella to a “sell” rating in a research report on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Ambarella in a research report on Friday, May 31st. Finally, Roth Mkm decreased their price target on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ambarella currently has an average rating of “Hold” and a consensus price target of $69.75.

Ambarella Price Performance

Shares of AMBA traded up $2.49 during midday trading on Tuesday, reaching $56.10. The stock had a trading volume of 393,339 shares, compared to its average volume of 589,965. Ambarella has a 1-year low of $40.31 and a 1-year high of $85.09. The company’s fifty day simple moving average is $50.90 and its two-hundred day simple moving average is $53.00. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -12.72 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, May 30th. The semiconductor company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.09. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. The business had revenue of $54.47 million for the quarter, compared to analyst estimates of $54.04 million. On average, sell-side analysts forecast that Ambarella will post -3.35 earnings per share for the current year.

Insider Activity

In related news, VP Chi-Hong Ju sold 1,895 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.50, for a total transaction of $108,962.50. Following the completion of the transaction, the vice president now owns 180,252 shares of the company’s stock, valued at approximately $10,364,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 19,091 shares of company stock valued at $1,050,969 in the last 90 days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Ambarella by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,350 shares of the semiconductor company’s stock worth $43,171,000 after acquiring an additional 29,379 shares in the last quarter. Kodai Capital Management LP purchased a new position in Ambarella during the 4th quarter worth $65,543,000. Norges Bank purchased a new position in Ambarella during the 4th quarter worth $23,495,000. Tributary Capital Management LLC grew its position in Ambarella by 20.2% during the 4th quarter. Tributary Capital Management LLC now owns 225,937 shares of the semiconductor company’s stock worth $13,848,000 after purchasing an additional 38,018 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Ambarella during the 4th quarter worth $264,000. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence 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.