Ambarella Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 4,197 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $74.19, for a total value of $311,375.43. Following the sale, 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 SEC, which is accessible through this link.
Ambarella Inc. (NASDAQ:AMBA) opened at 73.91 on Tuesday. The company’s 50-day moving average price is $68.08 and its 200 day moving average price is $52.79. Ambarella Inc. has a 52-week low of $33.39 and a 52-week high of $74.95. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 55.66 and a beta of 1.50.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. The company had revenue of $65.10 million for the quarter, compared to the consensus estimate of $64.02 million. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. Ambarella’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, equities analysts expect that Ambarella Inc. will post $2.64 EPS for the current fiscal year.
A number of analysts recently issued reports on AMBA shares. Vetr cut Ambarella from a “strong-buy” rating to a “buy” rating and set a $68.62 price objective on the stock. in a report on Friday, August 12th. Zacks Investment Research upgraded Ambarella from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, August 2nd. Canaccord Genuity upped their target price on Ambarella from $85.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Deutsche Bank AG restated a “hold” rating and issued a $68.00 target price on shares of Ambarella in a research note on Friday, September 16th. Finally, Roth Capital assumed coverage on Ambarella in a research note on Wednesday, September 28th. They issued a “buy” rating and a $80.00 target price on the stock. Seven 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 stock. The company currently has an average rating of “Buy” and an average target price of $69.31.
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Ambarella during the fourth quarter valued at $8,585,000. IFP Advisors Inc increased its position in Ambarella by 28.5% in the first quarter. IFP Advisors Inc now owns 7,195 shares of the company’s stock valued at $322,000 after buying an additional 1,596 shares during the period. Credit Agricole S A increased its position in Ambarella by 42.9% in the first quarter. Credit Agricole S A now owns 17,000 shares of the company’s stock valued at $760,000 after buying an additional 5,100 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in Ambarella by 80.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,250 shares of the company’s stock valued at $637,000 after buying an additional 6,350 shares during the period. Finally, Geode Capital Management LLC increased its position in Ambarella by 10.5% in the first quarter. Geode Capital Management LLC now owns 46,225 shares of the company’s stock valued at $2,066,000 after buying an additional 4,408 shares during the period. Institutional investors own 51.33% of the company’s stock.
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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