Ambarella (NASDAQ:AMBA) Director Sells 250 Shares of Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher Paisley sold 250 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $70.76, for a total value of $17,690.00. Following the completion of the sale, the director directly owned 43,930 shares in the company, valued at approximately $3,108,486.80. The trade was a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ambarella Stock Down 5.5%

NASDAQ AMBA traded down $4.00 during trading on Monday, hitting $68.68. The stock had a trading volume of 1,213,071 shares, compared to its average volume of 1,351,847. The company has a market capitalization of $3.03 billion, a PE ratio of -53.24 and a beta of 2.09. The firm has a 50 day moving average price of $71.98 and a 200 day moving average price of $68.63. Ambarella, Inc. has a twelve month low of $48.30 and a twelve month high of $96.69.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Ambarella had a negative return on equity of 10.03% and a negative net margin of 13.48%.The business had revenue of $108.12 million for the quarter, compared to analyst estimates of $107.76 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ambarella, Inc. will post -1.12 earnings per share for the current year.

Analyst Ratings Changes

AMBA has been the topic of a number of research analyst reports. Northland Securities set a $101.00 target price on Ambarella in a research report on Wednesday, June 17th. Craig Hallum downgraded Ambarella from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research note on Friday, September 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price target on shares of Ambarella in a research report on Wednesday, September 16th. Roth Capital reduced their price objective on Ambarella from $90.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, September 4th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Ambarella in a report on Friday, September 4th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.56.

Institutional Trading of Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. Jericho Capital Asset Management L.P. increased its holdings in shares of Ambarella by 30.8% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock valued at $112,429,000 after purchasing an additional 373,734 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 49.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company’s stock worth $81,644,000 after purchasing an additional 524,937 shares during the period. Geode Capital Management LLC grew its position in Ambarella by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,020,527 shares of the semiconductor company’s stock valued at $72,305,000 after buying an additional 35,510 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Ambarella by 28.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 638,587 shares of the semiconductor company’s stock valued at $32,866,000 after buying an additional 139,928 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Ambarella by 18.4% in the 4th quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company’s stock valued at $43,497,000 after buying an additional 95,218 shares during the period. 82.09% of the stock is owned by institutional investors and hedge funds.

Ambarella Company Profile

Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.

The company’s product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.