Ambarella Inc. (AMBA) Stock Price Down 3.7%
Ambarella Inc. (NASDAQ:AMBA)’s share price was down 3.7% during trading on Tuesday . The stock traded as low as $65.71 and last traded at $65.85, with a volume of 927,796 shares traded. The stock had previously closed at $68.40.
Several equities analysts have recently commented on AMBA shares. Canaccord Genuity reissued a “buy” rating and issued a $65.00 target price on shares of Ambarella in a report on Tuesday, May 31st. Deutsche Bank AG reissued a “hold” rating and issued a $47.00 target price (up previously from $45.00) on shares of Ambarella in a report on Tuesday, May 31st. Needham & Company LLC reissued a “neutral” rating on shares of Ambarella in a report on Friday, June 3rd. Zacks Investment Research downgraded shares of Ambarella from a “hold” rating to a “sell” rating in a report on Friday, June 3rd. Finally, Morgan Stanley reissued a “buy” rating and issued a $55.00 target price on shares of Ambarella in a report on Saturday, June 4th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $68.26.
The stock has a 50-day moving average of $65.33 and a 200 day moving average of $50.63. The firm has a market cap of $2.17 billion, a P/E ratio of 49.86 and a beta of 1.49.
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Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $65.10 million for the quarter, compared to analyst estimates of $64.02 million. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. On average, equities analysts anticipate that Ambarella Inc. will post $2.64 earnings per share for the current year.
In other Ambarella news, CFO George Laplante sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $67.08, for a total value of $2,012,400.00. Following the transaction, the chief financial officer now owns 118,720 shares in the company, valued at approximately $7,963,737.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Day sold 1,173 shares of the firm’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $50.85, for a total value of $59,647.05. Following the completion of the transaction, the vice president now owns 23,532 shares in the company, valued at approximately $1,196,602.20. The disclosure for this sale can be found here. 5.43% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AMBA. Smithfield Trust Co. raised its position in Ambarella by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,000 shares of the company’s stock valued at $102,000 after buying an additional 1,000 shares in the last quarter. Penserra Capital Management LLC raised its position in Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock valued at $106,000 after buying an additional 316 shares in the last quarter. US Bancorp DE raised its position in Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock valued at $107,000 after buying an additional 197 shares in the last quarter. First Interstate Bank raised its position in Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock valued at $110,000 after buying an additional 88 shares in the last quarter. Finally, FTB Advisors Inc. bought a new position in Ambarella during the second quarter valued at approximately $112,000. Institutional investors and hedge funds 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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