Ambarella Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 4,197 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $74.19, for a total value of $311,375.43. Following the completion of the transaction, the vice president now directly owns 13,530 shares in the company, valued at approximately $1,003,790.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ambarella Inc. (NASDAQ:AMBA) opened at 73.05 on Wednesday. Ambarella Inc. has a 12 month low of $33.39 and a 12 month high of $74.95. The firm has a market capitalization of $2.39 billion, a P/E ratio of 55.01 and a beta of 1.50. The firm’s 50-day moving average price is $68.28 and its 200 day moving average price is $53.03.
Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The business earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Analysts anticipate that Ambarella Inc. will post $2.64 earnings per share for the current fiscal year.
A number of research firms have weighed in on AMBA. Vetr lowered Ambarella from a “sell” rating to a “strong sell” rating and set a $61.77 target price for the company. in a report on Tuesday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a report on Friday, August 26th. Zacks Investment Research lowered Ambarella from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Canaccord Genuity upped their target price on Ambarella from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. Finally, Pacific Crest restated a “buy” rating on shares of Ambarella in a report on Friday, September 2nd. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Ambarella presently has a consensus rating of “Buy” and an average target price of $69.31.
Several institutional investors have recently bought and sold shares of AMBA. First Interstate Bank increased its position in Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock valued at $110,000 after buying an additional 88 shares during the period. US Bancorp DE increased its position in Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock valued at $107,000 after buying an additional 197 shares during the period. Penserra Capital Management LLC increased its position in Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock valued at $106,000 after buying an additional 316 shares during the period. Teacher Retirement System of Texas increased its position in Ambarella by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,441 shares of the company’s stock valued at $226,000 after buying an additional 538 shares during the period. Finally, Redmond Asset Management LLC increased its position in Ambarella by 2.0% in the second quarter. Redmond Asset Management LLC now owns 28,934 shares of the company’s stock valued at $1,470,000 after buying an additional 572 shares during the period. Institutional investors and hedge funds own 51.33% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.
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