Ambarella (NASDAQ:AMBA) Hits New 12-Month High – Here’s What Happened

Ambarella, Inc. (NASDAQ:AMBA)’s share price hit a new 52-week high on Monday . The stock traded as high as $66.45 and last traded at $66.41, with a volume of 31953 shares. The stock had previously closed at $63.62.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Craig Hallum raised their target price on shares of Ambarella from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. TD Cowen lifted their price objective on Ambarella from $65.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Ambarella in a report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Ambarella in a research report on Wednesday, August 28th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Ambarella in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.09.

Ambarella Price Performance

The business’s 50-day simple moving average is $57.95 and its two-hundred day simple moving average is $54.73. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -15.84 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 (EPS) 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 business had revenue of $63.70 million during the quarter, compared to analysts’ expectations of $62.10 million. During the same quarter in the prior year, the firm earned ($0.76) EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Ambarella, Inc. will post -3 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO John Alexander Young sold 2,139 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $53.54, for a total value of $114,522.06. Following the sale, the chief financial officer now directly owns 103,529 shares of the company’s stock, valued at approximately $5,542,942.66. This represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher Day sold 2,904 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $58.00, for a total transaction of $168,432.00. Following the sale, the vice president now directly owns 18,466 shares in the company, valued at $1,071,028. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock worth $1,356,402 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Ambarella

Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in shares of Ambarella during the 2nd quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in Ambarella by 180.3% in the third quarter. Blue Trust Inc. now owns 499 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 321 shares during the period. CWM LLC increased its stake in Ambarella by 127.7% in the second quarter. CWM LLC now owns 542 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Ambarella by 389.6% during the third quarter. Signaturefd LLC now owns 661 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 526 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of Ambarella by 6,014.3% during the 3rd quarter. Larson Financial Group LLC now owns 856 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 842 shares in the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.

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.