Ambarella Inc. (NASDAQ:AMBA) CFO George Laplante sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the sale, the chief financial officer now directly owns 100,040 shares of the company’s stock, valued at approximately $7,002,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
George Laplante also recently made the following trade(s):
- On Friday, September 16th, George Laplante sold 4,844 shares of Ambarella stock. The shares were sold at an average price of $67.98, for a total transaction of $329,295.12.
- On Wednesday, September 7th, George Laplante sold 30,000 shares of Ambarella stock. The shares were sold at an average price of $67.08, for a total transaction of $2,012,400.00.
Shares of Ambarella Inc. (NASDAQ:AMBA) opened at 73.91 on Tuesday. Ambarella Inc. has a one year low of $33.39 and a one year high of $74.95. The company has a 50-day moving average of $68.08 and a 200 day moving average of $52.79. The firm has a market cap of $2.42 billion, a PE ratio of 55.66 and a beta of 1.50.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.16. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The firm earned $65.10 million during the quarter, compared to the consensus estimate of $64.02 million. During the same quarter in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities research analysts expect that Ambarella Inc. will post $2.64 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Ambarella by 1.7% in the second quarter. BlackRock Fund Advisors now owns 758,368 shares of the company’s stock valued at $38,533,000 after buying an additional 12,775 shares during the last quarter. Van Berkom & Associates Inc. purchased a new position in shares of Ambarella during the second quarter valued at $36,083,000. State Street Corp increased its position in shares of Ambarella by 0.4% in the second quarter. State Street Corp now owns 497,409 shares of the company’s stock valued at $25,272,000 after buying an additional 1,935 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Ambarella during the second quarter valued at $18,516,000. Finally, Rice Hall James & Associates LLC increased its position in shares of Ambarella by 47.1% in the second quarter. Rice Hall James & Associates LLC now owns 310,746 shares of the company’s stock valued at $15,789,000 after buying an additional 99,502 shares during the last quarter. 51.33% of the stock is owned by hedge funds and other institutional investors.
AMBA has been the subject of a number of analyst reports. Vetr lowered shares of Ambarella from a “buy” rating to a “sell” rating and set a $62.36 price objective for the company. in a report on Wednesday, August 24th. Deutsche Bank AG reissued a “hold” rating and issued a $68.00 price objective on shares of Ambarella in a report on Friday, September 16th. Canaccord Genuity upped their price objective on shares of Ambarella from $85.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Pacific Crest reaffirmed an “overweight” rating and set a $53.00 target price on shares of Ambarella in a research note on Monday, June 6th. Finally, FBN Securities reaffirmed an “outperform” rating and set a $80.00 target price (up previously from $60.00) on shares of Ambarella in a research note on Tuesday, September 6th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.31.
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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