Ambarella (NASDAQ:AMBA) Director Sells $17,690.00 in Stock

Ambarella, Inc. (NASDAQ:AMBA) Director Christopher Paisley sold 250 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $70.76, for a total transaction of $17,690.00. Following the sale, the director directly owned 43,930 shares in the company, valued at approximately $3,108,486.80. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ambarella Trading Up 1.1%

Shares of NASDAQ AMBA opened at $69.51 on Thursday. Ambarella, Inc. has a 1-year low of $48.30 and a 1-year high of $96.69. The company has a 50-day moving average of $72.00 and a two-hundred day moving average of $68.95. The company has a market cap of $3.07 billion, a PE ratio of -53.88 and a beta of 2.09.

Ambarella (NASDAQ:AMBA) last released its quarterly earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. The business had revenue of $108.12 million for the quarter, compared to analysts’ expectations of $107.76 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Ambarella’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that Ambarella, Inc. will post -1.12 earnings per share for the current year.

Hedge Funds Weigh In On Ambarella

Several institutional investors have recently modified their holdings of AMBA. The Manufacturers Life Insurance Company raised 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 acquiring an additional 524,937 shares during the period. Jericho Capital Asset Management L.P. boosted its stake in Ambarella by 30.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company’s stock worth $112,429,000 after purchasing an additional 373,734 shares during the period. Hawk Ridge Capital Management LP bought a new position in Ambarella during the 1st quarter worth about $14,212,000. Renaissance Technologies LLC bought a new position in Ambarella during the 1st quarter worth about $10,264,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 139,928 shares during the period. Institutional investors own 82.09% of the company’s stock.

Analyst Upgrades and Downgrades

AMBA has been the topic of several analyst reports. Weiss Ratings upgraded shares of Ambarella from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Oppenheimer reissued a “market perform” rating on shares of Ambarella in a research note on Friday, September 4th. Needham & Company LLC restated a “buy” rating on shares of Ambarella in a research report on Friday, September 4th. Stifel Nicolaus reduced their price target on Ambarella from $106.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price objective on shares of Ambarella in a report on Wednesday, September 16th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.56.

About Ambarella

Ambarella, Inc is a fabless semiconductor company that develops system-on-chip (SoC) products for edge artificial intelligence, computer vision and video processing applications. Its technologies are designed to help devices capture, analyze and process visual data locally, reducing the need to send all information to cloud-based systems.

The company’s product portfolio includes its CVflow family of edge AI processors, video processors and camera-focused SoCs. These products support applications such as advanced driver-assistance systems and automotive cameras, security and surveillance systems, robotics, industrial automation, consumer cameras and other intelligent imaging devices.

Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets internationally.