Ambarella Inc. (AMBA) CFO Sells $329,295.12 in Stock
Ambarella Inc. (NASDAQ:AMBA) CFO George Laplante sold 4,844 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $67.98, for a total value of $329,295.12. Following the completion of the sale, the chief financial officer now directly owns 94,884 shares in the company, valued at $6,450,214.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
George Laplante also recently made the following trade(s):
- On Wednesday, September 7th, George Laplante sold 30,000 shares of Ambarella stock. The stock was sold at an average price of $67.08, for a total value of $2,012,400.00.
Shares of Ambarella Inc. (NASDAQ:AMBA) opened at 66.21 on Wednesday. Ambarella Inc. has a 52 week low of $33.39 and a 52 week high of $72.99. The firm’s 50-day moving average is $65.54 and its 200-day moving average is $50.81. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 49.86 and a beta of 1.49.
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Ambarella (NASDAQ:AMBA) last issued its earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.16. The business had revenue of $65.10 million for the quarter, compared to analyst estimates of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. Analysts forecast that Ambarella Inc. will post $2.64 earnings per share for the current fiscal year.
A number of analysts have recently commented on AMBA shares. Stifel Nicolaus reissued a “buy” rating and issued a $86.00 price target on shares of Ambarella in a research report on Thursday, August 25th. Pacific Crest boosted their price objective on shares of Ambarella from $53.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Ambarella in a report on Friday, August 26th. Morgan Stanley restated a “buy” rating and issued a $78.00 price objective on shares of Ambarella in a report on Friday, September 2nd. Finally, Deutsche Bank AG restated a “hold” rating and issued a $68.00 price objective on shares of Ambarella in a report on Friday, September 16th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Ambarella has a consensus rating of “Buy” and a consensus price target of $68.26.
Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Ambarella during the fourth quarter worth approximately $8,585,000. Quantitative Systematic Strategies LLC bought a new position in shares of Ambarella during the first quarter worth approximately $587,000. IFP Advisors Inc raised its position in shares of Ambarella by 28.5% in the first quarter. IFP Advisors Inc now owns 7,195 shares of the company’s stock worth $322,000 after buying an additional 1,596 shares during the period. Credit Agricole S A raised its position in shares of Ambarella by 42.9% in the first quarter. Credit Agricole S A now owns 17,000 shares of the company’s stock worth $760,000 after buying an additional 5,100 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Ambarella by 80.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,250 shares of the company’s stock worth $637,000 after buying an additional 6,350 shares during the period. 51.33% of the stock is currently owned by institutional investors and hedge funds.
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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