Ambarella Inc (AMBA) VP Sells $71,098.50 in Stock
Ambarella Inc (NASDAQ:AMBA) VP Christopher Day sold 1,529 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $46.50, for a total value of $71,098.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Ambarella Inc (NASDAQ:AMBA) traded down 0.62% during trading on Wednesday, hitting $46.15. The stock had a trading volume of 755,485 shares. The company has a market cap of $1.53 billion, a P/E ratio of 30.14 and a beta of 1.60. The stock has a 50-day moving average price of $49.30 and a 200 day moving average price of $53.07. Ambarella Inc has a 12 month low of $40.06 and a 12 month high of $74.95.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $71.63 million for the quarter, compared to analyst estimates of $70.79 million. Ambarella had a return on equity of 2.89% and a net margin of 4.61%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. Equities analysts expect that Ambarella Inc will post $1.89 EPS for the current fiscal year.
Ambarella declared that its Board of Directors has authorized a share repurchase plan on Tuesday, June 6th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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Several equities analysts have commented on the company. ValuEngine raised Ambarella from a “sell” rating to a “hold” rating in a research report on Friday, September 8th. Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Ambarella in a research report on Thursday, September 7th. Zacks Investment Research lowered Ambarella from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Canaccord Genuity lowered their price objective on Ambarella from $72.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, September 5th. Finally, Roth Capital reissued a “buy” rating and set a $65.00 price objective on shares of Ambarella in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.23.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Ambarella by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,145,609 shares of the semiconductor company’s stock valued at $104,169,000 after purchasing an additional 60,770 shares during the period. Van Berkom & Associates Inc. increased its holdings in shares of Ambarella by 22.7% in the second quarter. Van Berkom & Associates Inc. now owns 1,235,483 shares of the semiconductor company’s stock valued at $59,983,000 after purchasing an additional 228,740 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of Ambarella by 36.2% in the second quarter. Eagle Asset Management Inc. now owns 1,152,405 shares of the semiconductor company’s stock valued at $55,949,000 after purchasing an additional 306,248 shares during the period. AXA increased its holdings in shares of Ambarella by 100.6% in the second quarter. AXA now owns 708,106 shares of the semiconductor company’s stock valued at $34,379,000 after purchasing an additional 355,170 shares during the period. Finally, State of Tennessee Treasury Department increased its holdings in shares of Ambarella by 53.8% in the second quarter. State of Tennessee Treasury Department now owns 600,000 shares of the semiconductor company’s stock valued at $29,130,000 after purchasing an additional 210,000 shares during the period. 57.06% of the stock is currently owned by institutional investors and hedge funds.
Ambarella Company Profile
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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