Ambarella (AMBA) Stock Price Down 8.8%

Shares of Ambarella Inc (NASDAQ:AMBA) dropped 8.8% during mid-day trading on Thursday . The company traded as low as $54.67 and last traded at $54.92. Approximately 2,994,200 shares changed hands during mid-day trading, an increase of 103% from the average daily volume of 1,473,300 shares. The stock had previously closed at $60.21.

AMBA has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Ambarella in a research note on Friday, December 1st. Zacks Investment Research raised Ambarella from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Ambarella in a research note on Friday, October 13th. UBS Group raised Ambarella from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Ambarella in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Ambarella currently has a consensus rating of “Hold” and an average target price of $60.14.

The company has a market cap of $1,830.00, a PE ratio of 52.81, a price-to-earnings-growth ratio of 5.29 and a beta of 1.59.

Ambarella (NASDAQ:AMBA) last released its earnings results on Thursday, November 30th. The semiconductor company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm had revenue of $89.06 million for the quarter, compared to the consensus estimate of $89.41 million. Ambarella had a return on equity of 7.87% and a net margin of 11.51%. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. equities research analysts expect that Ambarella Inc will post 0.7 earnings per share for the current fiscal year.

In other news, VP Yun-Lung Chen sold 11,340 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $59.80, for a total transaction of $678,132.00. Following the transaction, the vice president now owns 11,386 shares of the company’s stock, valued at approximately $680,882.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Day sold 1,111 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $57.69, for a total value of $64,093.59. Following the transaction, the vice president now directly owns 22,216 shares in the company, valued at approximately $1,281,641.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,553 shares of company stock worth $2,145,108. Corporate insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AXA increased its position in shares of Ambarella by 17.8% during the 3rd quarter. AXA now owns 834,078 shares of the semiconductor company’s stock valued at $40,878,000 after purchasing an additional 125,972 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Ambarella during the 3rd quarter valued at $216,000. Caxton Associates LP purchased a new position in Ambarella during the 3rd quarter valued at $1,005,000. Vident Investment Advisory LLC boosted its holdings in Ambarella by 82.6% during the 3rd quarter. Vident Investment Advisory LLC now owns 283,991 shares of the semiconductor company’s stock valued at $13,918,000 after acquiring an additional 128,489 shares during the period. Finally, Cowen Inc. purchased a new position in Ambarella during the 3rd quarter valued at $294,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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Ambarella Company Profile

Ambarella, Inc offers semiconductor processing solutions for video that enable high-definition (HD), video capture, sharing and display. The Company operates through the development and sale of low-power, high-definition video products segment. Its system-on-a-chip designs incorporate HD video processing, image processing, audio processing and system functions onto a single chip.

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