Christopher Day Sells 483 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock

Ambarella, Inc. (NASDAQ:AMBA) VP Christopher Day sold 483 shares of Ambarella stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $25,859.82. Following the transaction, the vice president now directly owns 21,370 shares in the company, valued at $1,144,149.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Christopher Day also recently made the following trade(s):

• On Monday, July 8th, Christopher Day sold 1,408 shares of Ambarella stock. The shares were sold at an average price of $61.66, for a total value of $86,817.28.

Ambarella Stock Performance

Shares of NASDAQ:AMBA opened at $54.40 on Friday. Ambarella, Inc. has a 52-week low of $39.69 and a 52-week high of $65.88. The business’s 50 day simple moving average is $52.07 and its two-hundred day simple moving average is $51.52. The firm has a market cap of $2.23 billion, a P/E ratio of -12.77 and a beta of 1.63.

Ambarella (NASDAQ:AMBA) last issued its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. Ambarella’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Ambarella, Inc. will post -2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMBA. Kodai Capital Management LP bought a new stake in shares of Ambarella during the fourth quarter worth about $65,543,000. Point72 Asset Management L.P. increased its holdings in Ambarella by 1,556.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 507,006 shares of the semiconductor company’s stock worth $27,353,000 after purchasing an additional 476,406 shares in the last quarter. Norges Bank purchased a new stake in shares of Ambarella in the fourth quarter worth approximately $23,495,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Ambarella by 36.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,291,900 shares of the semiconductor company’s stock valued at $69,698,000 after purchasing an additional 343,385 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Ambarella by 69.2% during the second quarter. Marshall Wace LLP now owns 613,346 shares of the semiconductor company’s stock valued at $33,090,000 after buying an additional 250,778 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMBA has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Ambarella in a research report on Friday, August 23rd. Wells Fargo & Company cut their price target on shares of Ambarella from $65.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Bank of America boosted their price objective on Ambarella from $50.00 to $57.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus raised their target price on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.00.

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.