Ambarella, Inc. (AMBA) VP Christopher Day Sells 2,618 Shares
Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 2,618 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $49.15, for a total value of $128,674.70. Following the completion of the transaction, the vice president now owns 20,377 shares in the company, valued at $1,001,529.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Christopher Day also recently made the following trade(s):
- On Monday, September 18th, Christopher Day sold 1,529 shares of Ambarella stock. The shares were sold at an average price of $46.50, for a total value of $71,098.50.
Shares of Ambarella, Inc. (NASDAQ:AMBA) opened at 48.70 on Tuesday. Ambarella, Inc. has a 1-year low of $40.06 and a 1-year high of $74.54. The firm has a 50-day moving average of $48.32 and a 200 day moving average of $52.58. The company has a market capitalization of $1.62 billion, a P/E ratio of 31.81 and a beta of 1.58.
Ambarella (NASDAQ:AMBA) last posted its earnings results on Thursday, August 31st. The semiconductor company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $71.63 million for the quarter, compared to the consensus estimate of $70.79 million. Ambarella had a net margin of 16.45% and a return on equity of 11.94%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. On average, analysts anticipate that Ambarella, Inc. will post $1.89 EPS for the current year.
Ambarella declared that its board has approved a stock buyback program on Tuesday, June 6th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several research firms recently weighed in on AMBA. Craig Hallum cut shares of Ambarella from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Ambarella in a research report on Friday, September 1st. Canaccord Genuity reiterated a “buy” rating and set a $72.00 target price on shares of Ambarella in a research report on Tuesday, July 11th. Zacks Investment Research cut shares of Ambarella from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $60.00 price target on shares of Ambarella in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $58.23.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMBA. AXA increased its stake in Ambarella by 100.6% during the second quarter. AXA now owns 708,106 shares of the semiconductor company’s stock worth $34,379,000 after acquiring an additional 355,170 shares during the last quarter. Rothschild Asset Management Inc. purchased a new stake in Ambarella during the second quarter valued at approximately $16,083,000. Eagle Asset Management Inc. raised its position in Ambarella by 36.2% during 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. Nomura Asset Management Co. Ltd. raised its position in Ambarella by 2,572.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 294,000 shares of the semiconductor company’s stock valued at $16,085,000 after purchasing an additional 283,000 shares during the period. Finally, Van Berkom & Associates Inc. raised its position in Ambarella by 22.7% during 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. Institutional investors own 57.06% 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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