Ambarella (NASDAQ:AMBA) shares fell 3.1% during trading on Friday . The company traded as low as $49.01 and last traded at $51.21. 973,626 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 1,053,381 shares. The stock had previously closed at $49.68.
A number of brokerages have commented on AMBA. BidaskClub lowered Ambarella from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. Zacks Investment Research downgraded Ambarella from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. ValuEngine upgraded Ambarella from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. Finally, Cowen assumed coverage on Ambarella in a research report on Thursday. They set an “outperform” rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $61.25.
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The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 92.29, a price-to-earnings-growth ratio of 16.39 and a beta of 1.27.
Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, March 1st. The semiconductor company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Ambarella had a return on equity of 4.04% and a net margin of 6.38%. The firm had revenue of $70.60 million during the quarter, compared to the consensus estimate of $70.26 million. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue was down 19.3% compared to the same quarter last year. sell-side analysts predict that Ambarella will post 0.22 earnings per share for the current fiscal year.
In related news, Director Christopher B. Paisley sold 1,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $54.87, for a total transaction of $54,870.00. Following the completion of the sale, the director now directly owns 15,302 shares in the company, valued at approximately $839,620.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher Day sold 1,012 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $53.07, for a total value of $53,706.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,882 shares of company stock valued at $738,518. 5.80% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in AMBA. Sandy Spring Bank bought a new stake in shares of Ambarella during the 1st quarter worth $110,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Ambarella during the 1st quarter worth $139,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Ambarella by 98.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,334 shares of the semiconductor company’s stock worth $197,000 after buying an additional 1,658 shares during the last quarter. HPM Partners LLC bought a new stake in shares of Ambarella during the 4th quarter worth $207,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Ambarella during the 1st quarter worth $213,000. Institutional investors and hedge funds own 68.71% of the company’s stock.
Ambarella Company Profile
Ambarella, Inc develops semiconductor processing solutions for video that enable high-definition (HD), video capture, analysis, sharing, and display worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, computer vision functionality, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.