Ambarella Inc. (AMBA) VP Yun-Lung Chen Sells 4,197 Shares
Ambarella Inc. (NASDAQ:AMBA) VP Yun-Lung Chen sold 4,197 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $74.19, for a total value of $311,375.43. Following the completion of the sale, the vice president now owns 13,530 shares of the company’s stock, valued at approximately $1,003,790.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Ambarella Inc. (NASDAQ:AMBA) opened at 73.05 on Wednesday. Ambarella Inc. has a 12-month low of $33.39 and a 12-month high of $74.95. The firm has a 50 day moving average price of $68.28 and a 200-day moving average price of $53.03. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 55.01 and a beta of 1.50.
Ambarella (NASDAQ:AMBA) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.02 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Ambarella’s revenue was down 22.7% compared to the same quarter last year. On average, equities analysts expect that Ambarella Inc. will post $2.64 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Smithfield Trust Co. boosted its position in shares of 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 during the period. Penserra Capital Management LLC boosted its position in shares of 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 during the period. US Bancorp DE boosted its position in shares of 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 during the period. First Interstate Bank boosted its position in shares of 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 during the period. Finally, FTB Advisors Inc. purchased a new position in shares of Ambarella during the second quarter valued at about $112,000. 51.33% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. Roth Capital assumed coverage on Ambarella in a report on Wednesday, September 28th. They issued a “buy” rating and a $80.00 price objective for the company. Vetr upgraded Ambarella from a “sell” rating to a “hold” rating and set a $65.38 price objective for the company in a report on Monday, September 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $68.00 price objective on shares of Ambarella in a report on Friday, September 16th. Zacks Investment Research upgraded Ambarella from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective for the company in a report on Thursday, September 8th. Finally, FBN Securities reiterated an “outperform” rating and issued a $80.00 price objective (up previously from $60.00) on shares of Ambarella in a report on Tuesday, September 6th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ambarella has an average rating of “Buy” and a consensus price target of $69.31.
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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