Ambarella (NASDAQ:AMBA) Stock Price Up 7.7%

Ambarella, Inc. (NASDAQ:AMBA)’s stock price rose 7.7% during mid-day trading on Thursday . The stock traded as high as $164.50 and last traded at $164.33. Approximately 2,951 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 582,946 shares. The stock had previously closed at $152.62.

AMBA has been the subject of several recent research reports. Rosenblatt Securities increased their price target on shares of Ambarella from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 1st. Zacks Investment Research lowered shares of Ambarella from a “buy” rating to a “hold” rating and set a $101.00 price objective for the company. in a report on Thursday, July 22nd. Colliers Securities reaffirmed a “buy” rating and set a $135.00 price objective on shares of Ambarella in a report on Wednesday, September 1st. Wells Fargo & Company raised their price objective on shares of Ambarella from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 1st. Finally, Needham & Company LLC raised shares of Ambarella to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Ambarella has an average rating of “Buy” and a consensus target price of $136.50.

The stock has a market capitalization of $6.13 billion, a P/E ratio of -122.63 and a beta of 1.41. The business’s 50 day simple moving average is $130.55 and its 200-day simple moving average is $109.85.

Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Monday, August 30th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Ambarella had a negative net margin of 17.76% and a negative return on equity of 9.69%. The firm had revenue of $79.30 million for the quarter, compared to analysts’ expectations of $75.91 million. During the same period last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. As a group, equities analysts forecast that Ambarella, Inc. will post -0.53 EPS for the current year.

In other news, CFO Kevin C. Eichler sold 10,000 shares of Ambarella stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $133.30, for a total transaction of $1,333,000.00. Following the transaction, the chief financial officer now directly owns 51,475 shares of the company’s stock, valued at $6,861,617.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Chenming Hu sold 3,666 shares of Ambarella stock in a transaction on Wednesday, September 22nd. The stock was sold at an average price of $160.00, for a total transaction of $586,560.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,402 shares of company stock worth $3,057,036. Insiders own 5.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Ambarella during the second quarter worth $46,000. Castleview Partners LLC acquired a new stake in shares of Ambarella during the second quarter worth $56,000. Koshinski Asset Management Inc. acquired a new stake in shares of Ambarella during the third quarter worth $65,000. Heritage Wealth Management LLC raised its holdings in shares of Ambarella by 60.1% during the second quarter. Heritage Wealth Management LLC now owns 735 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 276 shares during the period. Finally, Liberty Wealth Management LLC raised its holdings in shares of Ambarella by 10,563.2% during the second quarter. Liberty Wealth Management LLC now owns 9,277 shares of the semiconductor company’s stock worth $87,000 after acquiring an additional 9,190 shares during the period. Institutional investors and hedge funds own 74.50% of the company’s stock.

Ambarella Company Profile (NASDAQ:AMBA)

Ambarella, Inc engages in the development and sale of video compression, image processing, and computer vision solutions. It offers processors and software that cater to end markets including security cameras, automotive cameras, industrial and robotic applications, and consumer applications. The company was founded by Feng Ming Wang and Leslie D.

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