Ambarella Sets New 1-Year High on Analyst Upgrade (AMBA)
Ambarella (NASDAQ:AMBA) shares hit a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from $35.00 to $39.00, Analyst Ratings.Net reports. The company traded as high as $36.72 and last traded at $34.67, with a volume of 1,496,763 shares. The stock had previously closed at $35.25.
In other Ambarella news, Insider Leslie Kohn sold 20,000 shares of Ambarella stock on the open market in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.00, for a total transaction of $640,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The stock’s 50-day moving average is $30.26 and its 200-day moving average is $28.5. The company has a market cap of $1.005 billion and a P/E ratio of 41.37.
Ambarella, Inc is a developer of semiconductor processing solutions for video that enable high-definition (NASDAQ:AMBA), video capture, sharing and display.
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