Insider Selling: Ambarella Inc. (AMBA) CEO Sells 9,573 Shares of Stock
Ambarella Inc. (NASDAQ:AMBA) CEO Feng-Ming Wang sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $67.98, for a total value of $650,772.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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 company’s 50 day moving average price is $65.54 and its 200-day moving average price is $50.81. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 49.86 and a beta of 1.49.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The business earned $65.10 million during the quarter, compared to analysts’ expectations of $64.02 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. Analysts anticipate that Ambarella Inc. will post $2.64 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in AMBA. Norges Bank purchased a new position in shares of Ambarella during the fourth quarter worth approximately $8,585,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Ambarella during the first quarter worth approximately $587,000. IFP Advisors Inc boosted 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 last quarter. Credit Agricole S A boosted 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 last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted 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 last quarter. 51.33% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on AMBA shares. Canaccord Genuity restated a “buy” rating and set a $65.00 price target on shares of Ambarella in a report on Tuesday, May 31st. Deutsche Bank AG reiterated 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 reiterated a “neutral” rating on shares of Ambarella in a report on Friday, June 3rd. Zacks Investment Research cut Ambarella from a “hold” rating to a “sell” rating in a report on Friday, June 3rd. Finally, Morgan Stanley reiterated a “buy” rating and issued a $55.00 target price on shares of Ambarella in a report on Saturday, June 4th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.26.
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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