Ambarella (NASDAQ:AMBA) Hits New 52-Week High – Here’s Why

Shares of Ambarella, Inc. (NASDAQ:AMBA) reached a new 52-week high on Monday . The company traded as high as $66.45 and last traded at $66.41, with a volume of 31953 shares traded. The stock had previously closed at $63.62.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Stifel Nicolaus raised their price target on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Bank of America lifted their target price on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Susquehanna cut their price target on Ambarella from $80.00 to $70.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three 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 an average rating of “Hold” and an average target price of $74.09.

Ambarella Stock Up 5.3 %

The business’s fifty day moving average price is $57.67 and its 200 day moving average price is $54.58. The firm has a market capitalization of $2.77 billion, a PE ratio of -15.04 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last released its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. The firm had revenue of $63.70 million during the quarter, compared to the consensus estimate of $62.10 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. Ambarella’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Ambarella, Inc. will post -3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ambarella news, CEO Feng-Ming Wang sold 4,382 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the completion of the transaction, the chief executive officer now directly owns 803,574 shares of the company’s stock, valued at $45,016,215.48. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher Day sold 2,904 shares of Ambarella stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock worth $1,356,402 over the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SWS Partners increased its holdings in Ambarella by 25.3% in the second quarter. SWS Partners now owns 79,522 shares of the semiconductor company’s stock valued at $4,290,000 after buying an additional 16,049 shares during the last quarter. Millennium Management LLC boosted its holdings in Ambarella by 7.0% in the second quarter. Millennium Management LLC now owns 1,447,466 shares of the semiconductor company’s stock worth $78,091,000 after purchasing an additional 94,257 shares during the period. Sei Investments Co. bought a new stake in Ambarella during the first quarter valued at $571,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ambarella by 18.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,502 shares of the semiconductor company’s stock worth $12,776,000 after purchasing an additional 35,977 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Ambarella in the 2nd quarter worth about $841,000. 82.09% of the stock is currently owned by 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.