Ambarella Inc. (AMBA) VP Sells $417,506.76 in Stock
Ambarella Inc. (NASDAQ:AMBA) VP Christopher Day sold 6,138 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $68.02, for a total value of $417,506.76. Following the completion of the transaction, the vice president now directly owns 25,997 shares of the company’s stock, valued at approximately $1,768,315.94. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Christopher Day also recently made the following trade(s):
- On Wednesday, September 21st, Christopher Day sold 2,000 shares of Ambarella stock. The stock was sold at an average price of $67.00, for a total value of $134,000.00.
- On Friday, September 16th, Christopher Day sold 1,405 shares of Ambarella stock. The stock was sold at an average price of $67.98, for a total value of $95,511.90.
Shares of Ambarella Inc. (NASDAQ:AMBA) opened at 70.87 on Friday. Ambarella Inc. has a 52 week low of $33.39 and a 52 week high of $72.99. The firm’s 50-day moving average price is $67.46 and its 200 day moving average price is $52.09. The stock has a market capitalization of $2.32 billion, a P/E ratio of 53.37 and a beta of 1.49.
Ambarella (NASDAQ:AMBA) last announced its earnings results on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.16. Ambarella had a return on equity of 14.23% and a net margin of 15.86%. The business earned $65.10 million during the quarter, compared to analyst estimates of $64.02 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. Analysts expect that Ambarella Inc. will post $2.64 earnings per share for the current year.
Several brokerages have recently issued reports on AMBA. Morgan Stanley reissued a “buy” rating and issued a $55.00 target price on shares of Ambarella in a research report on Saturday, June 4th. Zacks Investment Research lowered Ambarella from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Vetr lowered Ambarella from a “buy” rating to a “hold” rating and set a $68.62 target price for the company. in a research report on Thursday, August 18th. Needham & Company LLC reissued a “neutral” rating on shares of Ambarella in a research report on Friday, June 3rd. Finally, Pacific Crest reissued a “buy” rating on shares of Ambarella in a research report on Friday, September 2nd. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Ambarella has a consensus rating of “Buy” and an average target price of $69.31.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van Berkom & Associates Inc. acquired a new position in shares of Ambarella during the second quarter valued at about $36,083,000. Lord Abbett & CO. LLC purchased a new stake in shares of Ambarella during the second quarter worth about $18,516,000. Columbus Circle Investors purchased a new stake in shares of Ambarella during the second quarter worth about $14,506,000. Scout Investments Inc. raised its stake in shares of Ambarella by 278.0% in the second quarter. Scout Investments Inc. now owns 250,061 shares of the company’s stock worth $12,706,000 after buying an additional 183,911 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Ambarella during the fourth quarter worth about $8,585,000. Institutional investors and hedge funds own 51.33% of the company’s stock.
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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