Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day Sells 1,408 Shares

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 1,408 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $61.66, for a total value of $86,817.28. Following the completion of the transaction, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ambarella Price Performance

AMBA opened at $62.32 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -14.63 and a beta of 1.59. The business has a fifty day moving average price of $53.55 and a 200 day moving average price of $52.92. Ambarella, Inc. has a 12 month low of $40.31 and a 12 month high of $84.86.

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

Wall Street Analyst Weigh In

AMBA has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Roth Mkm decreased their price objective on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Bank of America dropped their target price on shares of Ambarella from $62.00 to $50.00 and set an “underperform” rating for the company in a report on Tuesday, April 16th. StockNews.com upgraded Ambarella to a “sell” rating in a research note on Friday, April 26th. Finally, Morgan Stanley boosted their price objective on Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.75.

Institutional Investors Weigh In On Ambarella

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Ambarella by 31.9% in the third quarter. The Manufacturers Life Insurance Company now owns 429,892 shares of the semiconductor company’s stock valued at $22,797,000 after buying an additional 103,978 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ambarella by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,022,670 shares of the semiconductor company’s stock valued at $213,322,000 after acquiring an additional 139,767 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Ambarella by 23.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 365,218 shares of the semiconductor company’s stock worth $22,384,000 after acquiring an additional 68,724 shares in the last quarter. DMC Group LLC purchased a new stake in Ambarella during the fourth quarter worth approximately $211,000. Finally, Raymond James & Associates boosted its holdings in Ambarella by 2.8% in the fourth quarter. Raymond James & Associates now owns 11,114 shares of the semiconductor company’s stock valued at $681,000 after purchasing an additional 307 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Company Profile

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.