Key Points
- Director Christopher Paisley sold 250 Ambarella shares at an average price of $70.76, worth $17,690, under a pre-arranged Rule 10b5-1 plan. He continues to own 43,930 shares.
- Ambarella reported quarterly EPS of $0.18, slightly above the $0.17 consensus, while revenue rose 13.2% year over year to $108.12 million; however, the company remained unprofitable.
- Analyst sentiment is currently “Hold”, with a consensus price target of $89.56 after several firms lowered their targets. Institutional investors own approximately 82.09% of the stock.
Ambarella, Inc. (NASDAQ:AMBA - Get Free Report) Director Christopher Paisley sold 250 shares of the business's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $70.76, for a total value of $17,690.00. Following the completion of the transaction, the director directly owned 43,930 shares in the company, valued at approximately $3,108,486.80. This represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ambarella Stock Performance
Shares of NASDAQ:AMBA opened at $68.68 on Tuesday. The business has a fifty day moving average of $72.04 and a 200-day moving average of $68.73. Ambarella, Inc. has a twelve month low of $48.30 and a twelve month high of $96.69. The firm has a market cap of $3.03 billion, a PE ratio of -53.24 and a beta of 2.09.
Ambarella (NASDAQ:AMBA - Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Ambarella had a negative net margin of 13.48% and a negative return on equity of 10.03%. The business had revenue of $108.12 million for the quarter, compared to the consensus estimate of $107.76 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts anticipate that Ambarella, Inc. will post -1.12 EPS for the current fiscal year.
Institutional Trading of Ambarella
Institutional investors and hedge funds have recently modified their holdings of the stock. Jericho Capital Asset Management L.P. increased its position in shares of Ambarella by 30.8% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 1,587,081 shares of the semiconductor company's stock valued at $112,429,000 after buying an additional 373,734 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Ambarella by 49.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,586,082 shares of the semiconductor company's stock valued at $81,644,000 after acquiring an additional 524,937 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ambarella by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,020,527 shares of the semiconductor company's stock worth $72,305,000 after acquiring an additional 35,510 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ambarella by 28.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 638,587 shares of the semiconductor company's stock valued at $32,866,000 after purchasing an additional 139,928 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Ambarella by 18.4% during the 4th quarter. Legal & General Group Plc now owns 614,017 shares of the semiconductor company's stock valued at $43,497,000 after purchasing an additional 95,218 shares in the last quarter. 82.09% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AMBA has been the subject of a number of recent research reports. Roth Capital dropped their target price on Ambarella from $90.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, September 4th. Bank of America decreased their price target on Ambarella from $96.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, September 4th. Needham & Company LLC reissued a "buy" rating on shares of Ambarella in a report on Friday, September 4th. Northland Securities set a $101.00 price objective on Ambarella in a report on Wednesday, June 17th. Finally, Craig Hallum lowered shares of Ambarella from a "buy" rating to a "hold" rating and set a $70.00 target price on the stock. in a research note on Friday, September 4th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $89.56.
View Our Latest Report on Ambarella
Ambarella Company Profile
(
Get Free Report)
Ambarella, Inc is a fabless semiconductor company that develops low-power system-on-chip (SoC) solutions for video processing and artificial intelligence at the edge. Its technology is designed to help devices capture, process, analyze and transmit high-quality video while reducing the need to send data to cloud-based systems.
The company's product portfolio includes its CVflow family of AI vision processors, video processors and related software. These solutions support computer vision and machine learning applications in security cameras, automotive systems, advanced driver-assistance systems, robotics, industrial equipment and consumer devices.
Founded in 2004 and headquartered in Santa Clara, California, Ambarella serves customers and markets globally through its semiconductor products and technology partnerships.
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