Ambarella (NASDAQ:AMBA) Shares Up 11.3% – What’s Next?

Ambarella, Inc. (NASDAQ:AMBA)’s stock price shot up 11.3% during mid-day trading on Monday . The company traded as high as $87.00 and last traded at $87.2350. 238,753 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,158,656 shares. The stock had previously closed at $78.36.

Analyst Upgrades and Downgrades

AMBA has been the topic of several recent research reports. Rosenblatt Securities upped their price objective on Ambarella from $115.00 to $120.00 in a research report on Tuesday, June 30th. Stifel Nicolaus set a $106.00 target price on shares of Ambarella in a report on Friday, May 29th. Bank of America boosted their target price on shares of Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Northland Securities set a $101.00 price target on shares of Ambarella in a report on Wednesday, June 17th. Finally, Susquehanna raised their price target on shares of Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ambarella has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Ambarella Stock Performance

The stock has a market capitalization of $3.66 billion, a PE ratio of -51.89 and a beta of 2.11. The stock’s 50 day moving average is $74.00 and its two-hundred day moving average is $66.50.

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

Insider Activity

In related news, VP Chi-Hong Ju sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $88.84, for a total transaction of $888,400.00. Following the completion of the sale, the vice president directly owned 155,924 shares in the company, valued at approximately $13,852,288.16. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Feng-Ming Wang sold 16,250 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $90.08, for a total value of $1,463,800.00. Following the completion of the transaction, the chief executive officer directly owned 773,607 shares of the company’s stock, valued at approximately $69,686,518.56. This represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,432 shares of company stock valued at $7,241,303 in the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in Ambarella by 2.1% during the first quarter. Royal Bank of Canada now owns 64,744 shares of the semiconductor company’s stock worth $3,258,000 after acquiring an additional 1,307 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 286 shares during the last quarter. AQR Capital Management LLC lifted its stake in Ambarella by 126.6% in the 1st quarter. AQR Capital Management LLC now owns 84,871 shares of the semiconductor company’s stock worth $4,272,000 after purchasing an additional 47,414 shares in the last quarter. Empowered Funds LLC lifted its stake in Ambarella by 34.6% in the 1st quarter. Empowered Funds LLC now owns 6,838 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Ambarella by 48.1% during the 1st quarter. Intech Investment Management LLC now owns 25,586 shares of the semiconductor company’s stock worth $1,288,000 after purchasing an additional 8,306 shares during 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.