Ambarella (NASDAQ:AMBA) Shares Down 4.3% – What’s Next?

Ambarella, Inc. (NASDAQ:AMBA) dropped 4.3% during trading on Monday . The stock traded as low as $82.47 and last traded at $82.3170. 1,292,438 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 1,286,148 shares. The stock had previously closed at $86.00.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America boosted their price target 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. Susquehanna raised their target price on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, May 29th. Rosenblatt Securities increased their price objective on Ambarella from $115.00 to $120.00 in a report on Tuesday, June 30th. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Stifel Nicolaus set a $106.00 price target on shares of Ambarella in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.12.

Ambarella Stock Down 1.4%

The firm has a fifty day moving average price of $72.24 and a two-hundred day moving average price of $66.69. The stock has a market capitalization of $3.56 billion, a P/E ratio of -50.34 and a beta of 2.12.

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

Insiders Place Their Bets

In related news, VP Chi-Hong Ju sold 10,000 shares of the stock in a transaction 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 sale, the vice president directly owned 155,924 shares of the company’s stock, valued at $13,852,288.16. This trade represents a 6.03% 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, CEO Feng-Ming Wang sold 32,500 shares of Ambarella stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $91.01, for a total value of $2,957,825.00. Following the completion of the sale, the chief executive officer owned 806,061 shares of the company’s stock, valued at $73,359,611.61. The trade was a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 91,419 shares of company stock worth $7,591,700 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Main Management ETF Advisors LLC boosted its holdings in Ambarella by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 17,226 shares of the semiconductor company’s stock worth $1,220,000 after purchasing an additional 176 shares during the last quarter. National Bank of Canada FI lifted its holdings in Ambarella by 18.9% in the third quarter. National Bank of Canada FI now owns 1,146 shares of the semiconductor company’s stock valued at $95,000 after acquiring an additional 182 shares during the period. Natixis Advisors LLC grew its stake in shares of Ambarella by 1.5% during the 3rd quarter. Natixis Advisors LLC now owns 13,721 shares of the semiconductor company’s stock valued at $1,132,000 after purchasing an additional 204 shares during the period. Mariner LLC increased its position in shares of Ambarella by 2.6% during the 3rd quarter. Mariner LLC now owns 8,574 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 219 shares during the last quarter. Finally, Essential Partners LLC boosted its holdings in shares of Ambarella by 90.1% in the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock worth $25,000 after buying an additional 228 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Ambarella Company Profile

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.