Ambarella (AMBA) Hits New 52-Week Low at $34.29

Shares of Ambarella Inc (NASDAQ:AMBA) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $34.29 and last traded at $34.34, with a volume of 11690 shares trading hands. The stock had previously closed at $35.08.

AMBA has been the subject of a number of analyst reports. BidaskClub cut shares of Ambarella from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Stifel Nicolaus reduced their target price on shares of Ambarella from $56.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 31st. Dougherty & Co dropped their price target on shares of Ambarella from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 31st. ValuEngine raised shares of Ambarella from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Deutsche Bank dropped their price target on shares of Ambarella from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, August 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.15.

The stock has a market cap of $1.24 billion, a P/E ratio of 63.60 and a beta of 1.06.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, August 30th. The semiconductor company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.12. Ambarella had a negative net margin of 1.40% and a negative return on equity of 0.71%. The company had revenue of $62.47 million for the quarter, compared to analyst estimates of $62.27 million. As a group, sell-side analysts forecast that Ambarella Inc will post -0.84 EPS for the current year.

In related news, CEO Feng-Ming Wang sold 10,727 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $35.56, for a total transaction of $381,452.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP George Laplante sold 4,016 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $35.53, for a total transaction of $142,688.48. Following the transaction, the executive vice president now directly owns 100,002 shares in the company, valued at approximately $3,553,071.06. The disclosure for this sale can be found here. In the last three months, insiders sold 43,609 shares of company stock worth $1,628,876. Insiders own 5.84% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AMBA. Legal & General Group Plc increased its position in Ambarella by 1,389.8% during the first quarter. Legal & General Group Plc now owns 259,032 shares of the semiconductor company’s stock worth $12,690,000 after acquiring an additional 241,645 shares during the period. Van Berkom & Associates Inc. increased its position in Ambarella by 12.1% during the second quarter. Van Berkom & Associates Inc. now owns 1,549,203 shares of the semiconductor company’s stock worth $59,815,000 after acquiring an additional 167,095 shares during the period. Formula Growth Ltd. increased its position in Ambarella by 267.2% during the second quarter. Formula Growth Ltd. now owns 220,343 shares of the semiconductor company’s stock worth $8,507,000 after acquiring an additional 160,343 shares during the period. BlackRock Inc. increased its position in Ambarella by 9.6% during the second quarter. BlackRock Inc. now owns 1,648,769 shares of the semiconductor company’s stock worth $63,658,000 after acquiring an additional 144,604 shares during the period. Finally, Natixis bought a new position in Ambarella during the second quarter worth $5,546,000. 70.31% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella (NASDAQ:AMBA)

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

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