Christopher Day Sells 1,408 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 1,408 shares of Ambarella stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ambarella Stock Performance

Shares of NASDAQ:AMBA traded up $0.89 during trading on Wednesday, hitting $60.42. The company’s stock had a trading volume of 397,097 shares, compared to its average volume of 590,047. The business has a 50 day moving average price of $52.96 and a two-hundred day moving average price of $52.86. The company has a market capitalization of $2.48 billion, a PE ratio of -14.18 and a beta of 1.59. Ambarella, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $84.86.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings results on Thursday, May 30th. The semiconductor company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.09. The business had revenue of $54.47 million during the quarter, compared to the consensus estimate of $54.04 million. Ambarella had a negative net margin of 78.36% and a negative return on equity of 24.86%. As a group, equities analysts expect that Ambarella, Inc. will post -3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ambarella

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its stake in shares of Ambarella by 127.7% during the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Ambarella in the fourth quarter valued at $78,000. Daiwa Securities Group Inc. lifted its position in Ambarella by 36.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,433 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 381 shares during the last quarter. Larson Financial Group LLC lifted its position in Ambarella by 13,576.9% in the first quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 1,765 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Ambarella in the first quarter valued at $205,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

AMBA has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Ambarella from $57.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. Roth Mkm dropped their target price on shares of Ambarella from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Ambarella in a report on Tuesday, June 11th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Ambarella in a report on Friday, May 31st. Finally, StockNews.com upgraded shares of Ambarella to a “sell” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.75.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.