Ambarella (NASDAQ:AMBA) Shares Up 9.2% – Still a Buy?

Ambarella, Inc. (NASDAQ:AMBA) traded up 9.2% on Tuesday . The company traded as high as $70.20 and last traded at $73.18. Approximately 210,544 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,078,587 shares. The stock had previously closed at $67.01.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMBA shares. Bank of America upped their price objective on Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ambarella in a research report on Friday. Consumer Edge restated a “buy” rating on shares of Ambarella in a research note on Friday, May 22nd. Northland Securities set a $101.00 target price on Ambarella in a research note on Wednesday, June 17th. Finally, Susquehanna upped their price target on Ambarella from $80.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.50.

Ambarella Trading Up 22.8%

The firm’s 50 day moving average price is $72.15 and its two-hundred day moving average price is $66.33. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -50.95 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, equities research analysts predict that Ambarella, Inc. will post -1.13 EPS for the current year.

Insider Buying and Selling

In other Ambarella news, VP Chi-Hong Ju sold 2,017 shares of Ambarella stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $67.87, for a total value of $136,893.79. Following the transaction, the vice president owned 165,924 shares in the company, valued at $11,261,261.88. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Yun-Lung Chen sold 9,856 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $67.06, for a total transaction of $660,943.36. Following the completion of the sale, the vice president owned 66,515 shares in the company, valued at $4,460,495.90. This represents a 12.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,932 shares of company stock valued at $4,873,601 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Ambarella

Several institutional investors have recently modified their holdings of AMBA. Essential Partners LLC raised its position in Ambarella by 90.1% during the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ambarella by 362.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 326 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ambarella in the 1st quarter valued at about $30,000. Advisory Services Network LLC acquired a new stake in shares of Ambarella in the third quarter valued at about $33,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Ambarella by 162.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 325 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Ambarella Company Profile

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.