Ambarella (NASDAQ:AMBA) Shares Gap Up to $66.84

Ambarella, Inc. (NASDAQ:AMBAGet Rating)’s share price gapped up prior to trading on Friday . The stock had previously closed at $66.84, but opened at $71.26. Ambarella shares last traded at $75.29, with a volume of 10,752 shares trading hands.

Analyst Ratings Changes

Several research firms have recently commented on AMBA. Needham & Company LLC decreased their target price on Ambarella from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Roth Capital reaffirmed a “buy” rating and issued a $110.00 target price on shares of Ambarella in a research report on Friday. Wells Fargo & Company decreased their target price on Ambarella to $105.00 in a research report on Tuesday, September 6th. KeyCorp decreased their target price on Ambarella from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Finally, Stifel Nicolaus decreased their target price on Ambarella from $100.00 to $94.00 and set a “buy” rating on the stock in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.27.

Ambarella Trading Up 14.2 %

The company has a market capitalization of $2.93 billion, a P/E ratio of -66.97 and a beta of 1.48. The stock has a 50 day moving average price of $58.75 and a 200 day moving average price of $70.31.

Ambarella (NASDAQ:AMBAGet Rating) last announced its earnings results on Tuesday, August 30th. The semiconductor company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.07). The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $80.21 million. Ambarella had a negative return on equity of 6.88% and a negative net margin of 12.14%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) earnings per share. On average, research analysts predict that Ambarella, Inc. will post -1.54 EPS for the current year.

Insider Buying and Selling

In other Ambarella news, CTO Leslie Kohn sold 6,179 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $58.95, for a total transaction of $364,252.05. Following the completion of the sale, the chief technology officer now directly owns 899,478 shares in the company, valued at approximately $53,024,228.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ambarella news, CTO Leslie Kohn sold 6,179 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $58.95, for a total transaction of $364,252.05. Following the completion of the sale, the chief technology officer now directly owns 899,478 shares in the company, valued at approximately $53,024,228.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chan W. Lee sold 2,072 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $63.25, for a total value of $131,054.00. Following the sale, the chief operating officer now owns 64,897 shares of the company’s stock, valued at $4,104,735.25. The disclosure for this sale can be found here. Insiders sold a total of 15,246 shares of company stock valued at $937,852 in the last three months. Insiders own 6.60% of the company’s stock.

Institutional Trading of Ambarella

Large investors have recently made changes to their positions in the company. Standard Family Office LLC acquired a new stake in shares of Ambarella in the 1st quarter valued at about $42,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Ambarella in the 2nd quarter valued at about $26,000. Prospera Financial Services Inc acquired a new stake in shares of Ambarella in the 1st quarter valued at about $52,000. Daiwa Securities Group Inc. grew its stake in shares of Ambarella by 45.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 619 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 194 shares during the period. Finally, CWM LLC grew its stake in shares of Ambarella by 101.9% in the 3rd quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 327 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

About Ambarella

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Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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.

Further Reading

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