Christopher B. Paisley Sells 750 Shares of Ambarella, Inc. (NASDAQ:AMBA) Stock
Ambarella, Inc. (NASDAQ:AMBA – Get Rating) Director Christopher B. Paisley sold 750 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $73.90, for a total transaction of $55,425.00. Following the completion of the transaction, the director now owns 31,263 shares in the company, valued at $2,310,335.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Ambarella stock traded down $0.57 during mid-day trading on Tuesday, reaching $69.38. 580,422 shares of the company’s stock were exchanged, compared to its average volume of 752,451. Ambarella, Inc. has a twelve month low of $65.60 and a twelve month high of $227.59. The company has a fifty day moving average of $82.80 and a 200-day moving average of $123.99. The company has a market cap of $2.64 billion, a P/E ratio of -96.35 and a beta of 1.28.
Ambarella (NASDAQ:AMBA – Get Rating) last announced its quarterly earnings data on Tuesday, May 31st. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Ambarella had a negative net margin of 7.50% and a negative return on equity of 4.69%. The company had revenue of $90.31 million for the quarter, compared to the consensus estimate of $90.09 million. During the same period in the prior year, the firm posted ($0.29) EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. Equities research analysts forecast that Ambarella, Inc. will post -1.35 earnings per share for the current year.
AMBA has been the topic of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of Ambarella from $130.00 to $125.00 in a report on Wednesday, June 1st. Cowen decreased their price objective on shares of Ambarella from $180.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, June 1st. Wells Fargo & Company decreased their price objective on shares of Ambarella from $125.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st. Colliers Securities restated a “buy” rating and issued a $220.00 price objective on shares of Ambarella in a report on Tuesday, March 1st. Finally, KeyCorp decreased their price objective on shares of Ambarella from $160.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $137.53.
Several large investors have recently made changes to their positions in AMBA. BlackRock Inc. increased its position in shares of Ambarella by 14.9% in the 1st quarter. BlackRock Inc. now owns 4,028,021 shares of the semiconductor company’s stock valued at $422,620,000 after purchasing an additional 522,698 shares during the last quarter. Norges Bank purchased a new stake in shares of Ambarella in the 4th quarter valued at approximately $84,942,000. Renaissance Technologies LLC increased its position in shares of Ambarella by 127.3% in the 1st quarter. Renaissance Technologies LLC now owns 571,100 shares of the semiconductor company’s stock valued at $59,920,000 after purchasing an additional 319,900 shares during the last quarter. Marshall Wace LLP increased its position in shares of Ambarella by 11,075.2% in the 4th quarter. Marshall Wace LLP now owns 309,665 shares of the semiconductor company’s stock valued at $62,828,000 after purchasing an additional 306,894 shares during the last quarter. Finally, Robeco Schweiz AG purchased a new stake in shares of Ambarella in the 1st quarter valued at approximately $29,325,000. 75.28% of the stock is currently owned by institutional investors.
About Ambarella (Get Rating)
Ambarella, Inc develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network 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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