Ambarella (NASDAQ:AMBA) Shares Up 6.7% – Still a Buy?

Ambarella, Inc. (NASDAQ:AMBA) shot up 6.7% during trading on Friday . The company traded as high as $66.00 and last traded at $65.4690. 129,999 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 900,546 shares. The stock had previously closed at $61.34.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Consumer Edge reissued a “buy” rating on shares of Ambarella in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ambarella in a research report on Wednesday, January 21st. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price objective on shares of Ambarella in a research report on Monday, March 23rd. Finally, Wall Street Zen downgraded shares of Ambarella from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.00.

Ambarella Stock Performance

The company has a market capitalization of $2.93 billion, a PE ratio of -37.54 and a beta of 2.01. The company’s 50-day simple moving average is $57.23 and its 200-day simple moving average is $69.30.

Ambarella (NASDAQ:AMBA) last issued its quarterly earnings data on Thursday, February 26th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Ambarella had a negative net margin of 19.42% and a negative return on equity of 12.16%. The company had revenue of $100.87 million for the quarter, compared to the consensus estimate of $100.17 million. During the same period last year, the firm posted $0.11 EPS. Ambarella’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts expect that Ambarella, Inc. will post -1.27 EPS for the current year.

Insider Activity

In other news, CFO John Alexander Young sold 1,971 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $60.00, for a total value of $118,260.00. Following the completion of the sale, the chief financial officer owned 117,623 shares in the company, valued at approximately $7,057,380. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Feng-Ming Wang sold 8,083 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $54.14, for a total transaction of $437,613.62. Following the completion of the sale, the chief executive officer owned 838,561 shares of the company’s stock, valued at $45,399,692.54. This trade represents a 0.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 103,899 shares of company stock worth $5,921,677 over the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Trading of Ambarella

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Ambarella by 362.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 416 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 326 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Ambarella in the 3rd quarter worth $33,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Ambarella by 162.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 525 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 325 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Ambarella in the 3rd quarter worth $43,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Ambarella by 44.1% in the 1st quarter. Advisors Asset Management Inc. now owns 935 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 286 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

Ambarella Company Profile

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.