Ambarella (NASDAQ:AMBA) Shares Up 1.6%

Shares of Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) rose 1.6% during trading on Wednesday . The company traded as high as $55.34 and last traded at $55.15. Approximately 56,654 shares changed hands during trading, a decline of 91% from the average daily volume of 617,129 shares. The stock had previously closed at $54.27.

Wall Street Analysts Forecast Growth

AMBA has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Ambarella from $65.00 to $55.00 and set an "equal weight" rating for the company in a research note on Friday, May 31st. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Rosenblatt Securities reissued a "buy" rating and set a $85.00 target price on shares of Ambarella in a research note on Friday, August 23rd. Morgan Stanley boosted their target price on shares of Ambarella from $67.00 to $73.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 28th. Finally, Roth Mkm reissued a "neutral" rating and set a $60.00 target price on shares of Ambarella 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.com, Ambarella presently has a consensus rating of "Hold" and a consensus target price of $75.00.

Ambarella Stock Performance

The company has a market cap of $2.21 billion, a PE ratio of -12.65 and a beta of 1.63. The firm's 50 day moving average is $51.52 and its 200-day moving average is $51.44.

Ambarella (NASDAQ:AMBA - Get Free Report) last posted its earnings results on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $63.70 million for the quarter, compared to analyst estimates of $62.10 million. Ambarella had a negative net margin of 79.46% and a negative return on equity of 26.01%. Ambarella's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) EPS. On average, analysts predict that Ambarella, Inc. will post -3 EPS for the current year.

Insider Transactions at Ambarella

In other news, CEO Feng-Ming Wang sold 4,382 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $56.02, for a total value of $245,479.64. Following the transaction, the chief executive officer now directly owns 803,574 shares in the company, valued at approximately $45,016,215.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ambarella news, VP Christopher Day sold 1,408 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $61.66, for a total transaction of $86,817.28. Following the sale, the vice president now directly owns 21,599 shares in the company, valued at approximately $1,331,794.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Feng-Ming Wang sold 4,382 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $56.02, for a total transaction of $245,479.64. Following the sale, the chief executive officer now owns 803,574 shares in the company, valued at $45,016,215.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,927 shares of company stock worth $1,274,788. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ambarella

A number of hedge funds have recently added to or reduced their stakes in AMBA. Meeder Asset Management Inc. acquired a new stake in Ambarella during the 2nd quarter worth approximately $26,000. CWM LLC increased its position in shares of Ambarella by 127.7% in the 2nd quarter. CWM LLC now owns 542 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Ambarella by 62.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,441 shares of the semiconductor company's stock valued at $78,000 after purchasing an additional 552 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Ambarella by 13,576.9% in the 1st quarter. Larson Financial Group LLC now owns 1,778 shares of the semiconductor company's stock valued at $90,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Ambarella by 22.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,275 shares of the semiconductor company's stock valued at $177,000 after purchasing an additional 590 shares during the last quarter. 82.09% of the stock is currently owned by institutional investors and hedge funds.

Ambarella Company Profile

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.