Christopher Paisley Sells 250 Shares of Ambarella (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher Paisley sold 250 shares of Ambarella stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $62.01, for a total transaction of $15,502.50. Following the completion of the transaction, the director owned 41,029 shares of the company’s stock, valued at $2,544,208.29. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ambarella Price Performance

Shares of AMBA traded up $18.79 on Tuesday, hitting $85.80. The company’s stock had a trading volume of 6,958,420 shares, compared to its average volume of 1,134,320. The company has a market capitalization of $3.76 billion, a PE ratio of -53.29 and a beta of 2.15. Ambarella, Inc. has a fifty-two week low of $48.30 and a fifty-two week high of $96.69. The company has a 50 day moving average price of $72.15 and a 200 day moving average price of $66.33.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, May 28th. The semiconductor company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Ambarella had a negative return on equity of 10.94% and a negative net margin of 17.18%.The firm had revenue of $100.36 million during the quarter, compared to analysts’ expectations of $100.12 million. During the same period last year, the firm posted $0.07 EPS. The business’s revenue was up 16.9% on a year-over-year basis. On average, equities analysts forecast that Ambarella, Inc. will post -1.13 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMBA shares. Susquehanna lifted their price target on Ambarella from $80.00 to $110.00 and gave the company a “positive” rating in a report on Friday, May 29th. Stifel Nicolaus set a $106.00 price objective on shares of Ambarella in a report on Friday, May 29th. Summit Insights downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Bank of America increased their price target on shares of Ambarella from $72.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Ambarella in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC acquired a new stake in shares of Ambarella during the 1st quarter worth approximately $129,000. Pacer Advisors Inc. lifted its holdings in Ambarella by 26.7% in the first quarter. Pacer Advisors Inc. now owns 5,360 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 1,129 shares during the period. Essential Partners LLC boosted its stake in Ambarella by 90.1% in the first quarter. Essential Partners LLC now owns 481 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Cim Investment Management Inc. boosted its stake in Ambarella by 43.2% in the first quarter. Cim Investment Management Inc. now owns 5,998 shares of the semiconductor company’s stock valued at $309,000 after acquiring an additional 1,810 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Ambarella by 7.8% during the 1st quarter. Bank of America Corp DE now owns 481,758 shares of the semiconductor company’s stock worth $24,798,000 after acquiring an additional 34,843 shares during the period. 82.09% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

Ambarella, Inc is a global semiconductor company headquartered in Santa Clara, California, specializing in video compression, image processing and computer vision technologies. The company designs low-power, high-definition system-on-chip (SoC) solutions that enable the capture, processing and streaming of video in a variety of embedded applications. Ambarella’s platforms combine advanced video encoding, multi-core central processing units and hardware accelerators to deliver high-resolution imaging with low power consumption.

Ambarella’s product portfolio caters to multiple markets, including security and surveillance, automotive vision, wearable cameras, drones and robotics.