Ambarella (NASDAQ:AMBA) Director Sells $15,502.50 in Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher Paisley sold 250 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $62.01, for a total transaction of $15,502.50. Following the transaction, the director owned 41,029 shares in the company, valued at approximately $2,544,208.29. The trade was a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ambarella Price Performance

Shares of NASDAQ AMBA traded up $18.79 during mid-day trading on Tuesday, hitting $85.80. The company had a trading volume of 6,958,420 shares, compared to its average volume of 1,134,320. The business’s 50-day simple moving average is $72.15 and its 200-day simple moving average is $66.33. Ambarella, Inc. has a 12 month low of $48.30 and a 12 month high of $96.69. The firm has a market cap of $3.76 billion, a P/E ratio of -53.29 and a beta of 2.15.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $100.36 million for the quarter, compared to analyst estimates of $100.12 million. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, sell-side analysts predict that Ambarella, Inc. will post -1.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMBA shares. Summit Insights cut Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Susquehanna increased their price objective on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Ambarella in a report on Tuesday, May 26th. Bank of America lifted their target price on shares of Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Northland Securities set a $101.00 price target on shares of Ambarella in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its stake in shares of Ambarella by 145.2% in the 4th quarter. GSA Capital Partners LLP now owns 24,800 shares of the semiconductor company’s stock valued at $1,757,000 after purchasing an additional 14,685 shares in the last quarter. Legal & General Group Plc increased its position in shares of Ambarella by 18.4% during the 4th quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock worth $43,497,000 after purchasing an additional 95,218 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in Ambarella during the 4th quarter valued at about $1,345,000. Leonteq Securities AG bought a new position in Ambarella during the 4th quarter valued at about $1,903,000. Finally, Handelsbanken Fonder AB boosted its position in Ambarella by 84.0% in the fourth quarter. Handelsbanken Fonder AB now owns 312,326 shares of the semiconductor company’s stock valued at $22,125,000 after buying an additional 142,551 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

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.