Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,540,000 shares, an increase of 7.7% from the November 15th total of 1,430,000 shares. Based on an average trading volume of 548,300 shares, the days-to-cover ratio is currently 2.8 days.
Wall Street Analysts Forecast Growth
AMBA has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Ambarella from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Northland Securities reissued an "outperform" rating and set a $95.00 target price (up previously from $75.00) on shares of Ambarella in a research report on Wednesday, November 27th. Westpark Capital reaffirmed a "buy" rating and issued a $85.00 price target on shares of Ambarella in a research report on Monday, August 26th. Morgan Stanley boosted their price objective on Ambarella from $73.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Finally, Needham & Company LLC raised their target price on Ambarella from $90.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $82.92.
Read Our Latest Report on AMBA
Ambarella Price Performance
Shares of AMBA traded down $0.56 on Friday, reaching $72.53. 512,057 shares of the stock traded hands, compared to its average volume of 605,829. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -18.79 and a beta of 1.68. Ambarella has a 12 month low of $39.69 and a 12 month high of $81.32. The stock's 50-day moving average price is $62.53 and its 200-day moving average price is $57.01.
Insider Activity at Ambarella
In other news, CFO John Alexander Young sold 2,139 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total transaction of $114,522.06. Following the transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Feng-Ming Wang sold 4,301 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $53.54, for a total value of $230,275.54. Following the completion of the sale, the chief executive officer now owns 799,527 shares of the company's stock, valued at approximately $42,806,675.58. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,474 shares of company stock valued at $1,246,694. 5.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Ambarella
Several institutional investors and hedge funds have recently bought and sold shares of AMBA. CWM LLC boosted its holdings in Ambarella by 127.7% during 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. SG Americas Securities LLC bought a new stake in Ambarella in the second quarter valued at $841,000. Hennion & Walsh Asset Management Inc. grew its position in Ambarella by 13.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 11,619 shares of the semiconductor company's stock valued at $627,000 after acquiring an additional 1,347 shares during the period. Tributary Capital Management LLC raised its stake in Ambarella by 2.2% during the second quarter. Tributary Capital Management LLC now owns 285,667 shares of the semiconductor company's stock worth $15,412,000 after acquiring an additional 6,020 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ambarella by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 205,233 shares of the semiconductor company's stock valued at $11,072,000 after acquiring an additional 22,276 shares during the period. Institutional investors own 82.09% of the company's stock.
About Ambarella
(
Get Free Report)
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.
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