Ambarella Inc. (AMBA) CFO George Laplante Sells 10,000 Shares of Stock
Ambarella Inc. (NASDAQ:AMBA) CFO George Laplante sold 10,000 shares of the stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the transaction, the chief financial officer now directly owns 100,040 shares in the company, valued at $7,002,800. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
George Laplante also recently made the following trade(s):
- On Friday, September 16th, George Laplante sold 4,844 shares of Ambarella stock. The shares were sold at an average price of $67.98, for a total transaction of $329,295.12.
- On Wednesday, September 7th, George Laplante sold 30,000 shares of Ambarella stock. The shares were sold at an average price of $67.08, for a total transaction of $2,012,400.00.
Shares of Ambarella Inc. (NASDAQ:AMBA) opened at 73.05 on Wednesday. The company has a 50 day moving average of $68.28 and a 200 day moving average of $53.03. The firm has a market cap of $2.39 billion, a PE ratio of 55.01 and a beta of 1.50. Ambarella Inc. has a 52 week low of $33.39 and a 52 week high of $74.95.
Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.38 by $0.16. The business earned $65.10 million during the quarter, compared to analyst estimates of $64.02 million. Ambarella had a net margin of 15.86% and a return on equity of 14.23%. The company’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts anticipate that Ambarella Inc. will post $2.64 EPS for the current fiscal year.
A number of research analysts recently commented on AMBA shares. Roth Capital started coverage on shares of Ambarella in a research report on Wednesday, September 28th. They issued a “buy” rating and a $80.00 target price on the stock. Vetr raised shares of Ambarella from a “sell” rating to a “hold” rating and set a $65.38 target price on the stock in a research report on Monday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $86.00 target price on shares of Ambarella in a research report on Thursday, August 25th. Pacific Crest increased their price target on shares of Ambarella from $53.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Ambarella in a research note on Friday, August 26th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.31.
Several institutional investors have recently added to or reduced their stakes in the company. Smithfield Trust Co. raised its position in Ambarella by 100.0% in the second quarter. Smithfield Trust Co. now owns 2,000 shares of the company’s stock valued at $102,000 after buying an additional 1,000 shares in the last quarter. Penserra Capital Management LLC raised its position in Ambarella by 17.9% in the second quarter. Penserra Capital Management LLC now owns 2,084 shares of the company’s stock valued at $106,000 after buying an additional 316 shares in the last quarter. US Bancorp DE raised its position in Ambarella by 10.3% in the second quarter. US Bancorp DE now owns 2,106 shares of the company’s stock valued at $107,000 after buying an additional 197 shares in the last quarter. First Interstate Bank raised its position in Ambarella by 4.2% in the second quarter. First Interstate Bank now owns 2,167 shares of the company’s stock valued at $110,000 after buying an additional 88 shares in the last quarter. Finally, FTB Advisors Inc. purchased a new position in Ambarella during the second quarter valued at approximately $112,000. 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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