Ambarella (NASDAQ:AMBA) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Ambarella, Inc. (NASDAQ:AMBA)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $66.51 and traded as low as $61.00. Ambarella shares last traded at $64.11, with a volume of 958,256 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on AMBA. Northland Securities set a $101.00 price objective on shares of Ambarella in a research report on Wednesday, June 17th. Stifel Nicolaus set a $106.00 target price on shares of Ambarella in a report on Friday, May 29th. Bank of America lifted their target price on shares of Ambarella from $72.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Susquehanna upped their price target on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Finally, Consumer Edge reiterated a “buy” rating on shares of Ambarella in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ambarella presently has a consensus rating of “Moderate Buy” and an average target price of $100.50.

Ambarella Price Performance

The company has a 50-day moving average price of $71.87 and a 200-day moving average price of $66.51. The firm has a market capitalization of $2.81 billion, a PE ratio of -39.82 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, May 28th. The semiconductor company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $100.36 million during the quarter, compared to analysts’ expectations of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. On average, research analysts predict that Ambarella, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Chan W. Lee sold 2,951 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $67.87, for a total value of $200,284.37. Following the completion of the transaction, the insider owned 157,098 shares of the company’s stock, valued at $10,662,241.26. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Yun-Lung Chen sold 9,856 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $67.06, for a total transaction of $660,943.36. Following the completion of the transaction, the vice president directly owned 66,515 shares of the company’s stock, valued at approximately $4,460,495.90. This represents a 12.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,932 shares of company stock worth $4,873,601 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Ambarella

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Essential Partners LLC raised its holdings in Ambarella by 90.1% in the 1st quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Ambarella by 362.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 326 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Ambarella during the 1st quarter worth $30,000. Advisory Services Network LLC acquired a new stake in shares of Ambarella during the third quarter worth $33,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Ambarella by 162.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 325 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.