Ambarella (NASDAQ:AMBA) Shares Gap Down - Here's Why

Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $45.13, but opened at $42.90. Ambarella shares last traded at $43.49, with a volume of 56,356 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMBA. StockNews.com raised shares of Ambarella from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $100.00 target price on shares of Ambarella in a research note on Thursday, February 27th. Needham & Company LLC upped their price target on shares of Ambarella from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price objective on shares of Ambarella from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Susquehanna upped their target price on shares of Ambarella from $95.00 to $100.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Ambarella Stock Performance

The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -10.74 and a beta of 1.86. The business has a fifty day simple moving average of $56.41 and a 200 day simple moving average of $64.23.

Insider Buying and Selling

In related news, VP Christopher Day sold 479 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total value of $26,354.58. Following the sale, the vice president now directly owns 15,441 shares in the company, valued at $849,563.82. This represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Chan W. Lee sold 1,468 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $55.02, for a total transaction of $80,769.36. Following the sale, the chief operating officer now owns 130,297 shares of the company's stock, valued at approximately $7,168,940.94. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,328 shares of company stock valued at $513,467 in the last three months. Insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC increased its position in Ambarella by 110.1% in the 1st quarter. FNY Investment Advisers LLC now owns 4,724 shares of the semiconductor company's stock valued at $237,000 after buying an additional 2,476 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Ambarella by 238.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,474 shares of the semiconductor company's stock worth $678,000 after buying an additional 9,491 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Ambarella by 34.5% in the first quarter. Exchange Traded Concepts LLC now owns 381,872 shares of the semiconductor company's stock worth $19,220,000 after purchasing an additional 97,911 shares during the last quarter. SG Americas Securities LLC bought a new position in Ambarella during the first quarter valued at about $922,000. Finally, Rhumbline Advisers grew its position in shares of Ambarella by 4.0% during the 1st quarter. Rhumbline Advisers now owns 58,571 shares of the semiconductor company's stock valued at $2,948,000 after acquiring an additional 2,249 shares during the period. 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.